Central Garden & Pet (NASDAQ:CENTA) Receives Consensus Rating of “Buy” from Brokerages

Shares of Central Garden & Pet (NASDAQ:CENTA) have earned a consensus rating of “Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $41.75.

A number of analysts have commented on the stock. StockNews.com lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Monday. Argus upgraded Central Garden & Pet to a “strong-buy” rating in a report on Tuesday, May 28th. Monness Crespi & Hardt upped their target price on Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Truist Financial upped their target price on Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, May 13th.

Insider Activity

In other news, Chairman William E. Brown sold 700,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.25, for a total value of $25,375,000.00. Following the completion of the sale, the chairman now directly owns 1,189,615 shares of the company’s stock, valued at $43,123,543.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman William E. Brown sold 700,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.25, for a total value of $25,375,000.00. Following the completion of the sale, the chairman now directly owns 1,189,615 shares of the company’s stock, valued at $43,123,543.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John D. Walker III sold 4,218 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $40.31, for a total value of $170,027.58. Following the completion of the transaction, the insider now directly owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The disclosure for this sale can be found here. Over the last three months, insiders sold 714,218 shares of company stock valued at $25,945,528. 20.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CENTA. GAMMA Investing LLC acquired a new position in Central Garden & Pet during the fourth quarter worth $35,000. Public Employees Retirement Association of Colorado increased its stake in shares of Central Garden & Pet by 37.4% in the first quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock valued at $61,000 after buying an additional 449 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Central Garden & Pet in the first quarter valued at $174,000. Ameritas Investment Partners Inc. increased its stake in shares of Central Garden & Pet by 31.1% in the first quarter. Ameritas Investment Partners Inc. now owns 5,133 shares of the company’s stock valued at $190,000 after buying an additional 1,219 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of Central Garden & Pet in the first quarter valued at $194,000. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Stock Performance

CENTA stock opened at $33.05 on Friday. Central Garden & Pet has a fifty-two week low of $27.88 and a fifty-two week high of $41.03. The company has a quick ratio of 1.68, a current ratio of 3.33 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $2.23 billion, a P/E ratio of 14.85 and a beta of 0.75. The company has a 50-day simple moving average of $36.16 and a 200 day simple moving average of $34.92.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The company had revenue of $900.09 million during the quarter, compared to the consensus estimate of $895.68 million. Sell-side analysts predict that Central Garden & Pet will post 2.28 earnings per share for the current fiscal year.

About Central Garden & Pet

Central Garden & Pet Company produces and distributes various 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 provides dog and cat supplies, such as dog treats and chews, toys, pet beds and containment, grooming products, waste management, and training pads; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.