Central Garden & Pet (NASDAQ:CENTA) Rating Increased to Hold at ValuEngine

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ValuEngine upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a sell rating to a hold rating in a research report report published on Friday morning, ValuEngine reports.

A number of other equities analysts have also recently commented on CENTA. Monness Crespi & Hardt reaffirmed a buy rating and set a $36.00 price target (down from $44.00) on shares of Central Garden & Pet in a research note on Friday, August 2nd. BidaskClub raised shares of Central Garden & Pet from a hold rating to a buy rating in a research note on Thursday, September 12th. KeyCorp dropped their price target on shares of Central Garden & Pet from $36.00 to $32.00 and set an overweight rating for the company in a research note on Wednesday, November 27th. Bank of America cut shares of Central Garden & Pet from a buy rating to a neutral rating in a research note on Wednesday, November 27th. Finally, Zacks Investment Research cut shares of Central Garden & Pet from a hold rating to a strong sell rating in a research note on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $33.00.

Central Garden & Pet stock opened at $25.37 on Friday. The company’s 50-day moving average price is $28.11 and its 200-day moving average price is $26.04. Central Garden & Pet has a twelve month low of $20.50 and a twelve month high of $36.92. The company has a quick ratio of 3.02, a current ratio of 4.69 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.44 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.17 and a beta of 0.05.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Tuesday, November 26th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). Central Garden & Pet had a return on equity of 9.26% and a net margin of 3.89%. The business had revenue of $540.74 million during the quarter, compared to the consensus estimate of $518.20 million. As a group, sell-side analysts expect that Central Garden & Pet will post 1.61 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CENTA. Metropolitan Life Insurance Co NY boosted its position in Central Garden & Pet by 4.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,660 shares of the company’s stock valued at $379,000 after buying an additional 577 shares during the period. Arizona State Retirement System boosted its position in Central Garden & Pet by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 64,162 shares of the company’s stock valued at $1,581,000 after buying an additional 874 shares during the period. 6 Meridian boosted its position in Central Garden & Pet by 4.5% in the 2nd quarter. 6 Meridian now owns 20,825 shares of the company’s stock valued at $513,000 after buying an additional 891 shares during the period. Envestnet Asset Management Inc. boosted its position in Central Garden & Pet by 6.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,686 shares of the company’s stock valued at $436,000 after buying an additional 1,061 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in Central Garden & Pet by 9.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,270 shares of the company’s stock valued at $425,000 after buying an additional 1,440 shares during the period. 64.07% of the stock is owned by hedge funds and other institutional investors.

About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments, Pet and Garden. The Pet segment supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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