Central Garden & Pet (NASDAQ:CENT) Receives $46.75 Average Price Target from Analysts

Shares of Central Garden & Pet (NASDAQ:CENT) have been given a consensus rating of “Buy” by the five analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $46.75.

A number of equities research analysts have recently weighed in on the company. Argus downgraded Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group lowered their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, Truist Financial lowered their target price on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th.

Central Garden & Pet Price Performance

Shares of CENT opened at $35.15 on Wednesday. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 21.72 and a beta of 0.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. Central Garden & Pet has a one year low of $32.17 and a one year high of $47.48. The stock’s fifty day moving average is $38.74 and its 200-day moving average is $37.88.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. The business had revenue of $669.49 million during the quarter, compared to analysts’ expectations of $707.83 million. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. Equities analysts anticipate that Central Garden & Pet will post 2.22 EPS for the current year.

Institutional Trading of Central Garden & Pet

Several institutional investors have recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Central Garden & Pet by 693.6% during the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock worth $48,000 after purchasing an additional 1,089 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Central Garden & Pet by 73.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company’s stock valued at $1,285,000 after buying an additional 14,964 shares in the last quarter. Franklin Resources Inc. boosted its stake in Central Garden & Pet by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after buying an additional 1,016 shares in the last quarter. Barclays PLC boosted its stake in Central Garden & Pet by 51.4% in the 3rd quarter. Barclays PLC now owns 34,944 shares of the company’s stock valued at $1,275,000 after buying an additional 11,865 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Central Garden & Pet in the 3rd quarter valued at $258,000. Institutional investors and hedge funds own 16.13% of the company’s stock.

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.