Central Garden & Pet (NASDAQ:CENT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Central Garden & Pet (NASDAQ:CENT) have received a consensus rating of “Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $52.75.

A number of analysts have commented on CENT shares. Argus upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, May 28th. Canaccord Genuity Group cut their target price on Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Monness Crespi & Hardt upgraded Central Garden & Pet to a “strong-buy” rating in a research report on Thursday, May 9th. Finally, Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st.

Insider Activity

In other Central Garden & Pet news, Chairman William E. Brown sold 700,000 shares of Central Garden & Pet stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the transaction, the chairman now owns 1,189,615 shares of the company’s stock, valued at approximately $43,123,543.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William E. Brown sold 700,000 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 1,189,615 shares of the company’s stock, valued at $43,123,543.75. The disclosure for this sale can be found here. 9.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Central Garden & Pet

Large investors have recently made changes to their positions in the company. Marshall Wace LLP grew its position in Central Garden & Pet by 748.5% in the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after acquiring an additional 74,100 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Central Garden & Pet by 6.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock worth $34,085,000 after purchasing an additional 51,454 shares in the last quarter. American Century Companies Inc. increased its position in Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after buying an additional 32,009 shares during the last quarter. ProShare Advisors LLC raised its holdings in Central Garden & Pet by 92.6% during the first quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock valued at $2,189,000 after buying an additional 24,575 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Central Garden & Pet by 32.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after buying an additional 10,237 shares in the last quarter. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Price Performance

Shares of NASDAQ:CENT opened at $38.99 on Friday. The firm’s 50 day moving average is $38.80 and its two-hundred day moving average is $41.08. The firm has a market capitalization of $2.63 billion, a P/E ratio of 17.48 and a beta of 0.78. The company has a current ratio of 3.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. Central Garden & Pet has a 52 week low of $30.75 and a 52 week high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.21 by $0.11. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The firm had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm earned $1.40 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. Analysts anticipate that Central Garden & Pet will post 2.23 earnings per share for the current year.

Central Garden & Pet Company Profile

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.