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

Shares of Central Garden & Pet (NASDAQ:CENT) have been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $47.50.

A number of equities research analysts have weighed in on the stock. Truist Financial dropped their price target on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a $48.00 target price on shares of Central Garden & Pet in a report on Monday, September 30th.

Central Garden & Pet Stock Up 0.3 %

Shares of NASDAQ:CENT opened at $38.81 on Tuesday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 17.90 and a beta of 0.75. Central Garden & Pet has a 12-month low of $31.31 and a 12-month high of $47.48. The business has a 50-day moving average price of $35.79 and a 200 day moving average price of $38.64. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75.

Insider Activity

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the sale, the chairman now directly owns 1,125,773 shares in the company, valued at $37,758,426.42. This represents a 5.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.53% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of large investors have recently modified their holdings of CENT. DekaBank Deutsche Girozentrale acquired a new position in Central Garden & Pet during the 2nd quarter worth $51,000. Glenmede Trust Co. NA boosted its stake in shares of Central Garden & Pet by 23.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after buying an additional 395 shares during the period. SG Americas Securities LLC acquired a new position in shares of Central Garden & Pet during the third quarter worth about $111,000. Point72 Asset Management L.P. purchased a new stake in shares of Central Garden & Pet during the second quarter worth approximately $113,000. Finally, EntryPoint Capital LLC lifted its stake in Central Garden & Pet by 909.2% in the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after acquiring an additional 3,846 shares during the last quarter. Hedge funds and other institutional investors 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.