Central Garden & Pet (NASDAQ:CENTA) Downgraded to “Hold” at Zacks Investment Research

Central Garden & Pet (NASDAQ:CENTAGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Central Garden & Pet Company is a leading innovator, marketer and producer of quality branded products for the lawn & garden and pet supplies markets. Committed to new product innovation, their products are sold to specialty independent and mass retailers. Participating categories in Lawn & Garden include: Grass seed and the brands PENNINGTON, and THE REBELS; wild bird feed and the brand PENNINGTON; weed and insect control and the brands AMDRO, SEVIN, IRONITE and OVER-N-OUT; and decorative outdoor patio products under the PENNINGTON brand. Participating categories in Pet include: Animal health and the brands ADAMS and ZODIAC; aquatics and reptile and the brands AQUEON, CORALIFE, SEGREST and ZILLA; bird & small animal and the brands KAYTEE, Forti-Diet and CRITTER TRAIL; dog & cat and the brands TFH, NYLABONE, FOUR PAWS, IMS, CADET, DMC, K&H Pet Products, PINNACLE and AVODERM; and equine and the brands FARNAM, HORSE HEALTH and VITAFLEX. “

A number of other research firms have also weighed in on CENTA. JPMorgan Chase & Co. upped their target price on shares of Central Garden & Pet from $47.00 to $49.00 in a report on Thursday, April 14th. StockNews.com assumed coverage on shares of Central Garden & Pet in a report on Thursday, March 31st. They set a “hold” rating on the stock.

Central Garden & Pet stock traded down $0.60 during midday trading on Thursday, reaching $41.02. 274,823 shares of the stock were exchanged, compared to its average volume of 182,941. The company’s fifty day moving average is $41.79 and its 200-day moving average is $44.01. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.29 and a current ratio of 2.85. The firm has a market cap of $2.26 billion, a PE ratio of 14.97 and a beta of 0.56. Central Garden & Pet has a 52 week low of $39.30 and a 52 week high of $53.47.

In other Central Garden & Pet news, CFO Nicholas Lahanas sold 7,306 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $41.78, for a total value of $305,244.68. Following the completion of the transaction, the chief financial officer now owns 113,520 shares of the company’s stock, valued at approximately $4,742,865.60. The transaction was disclosed in a filing with the SEC, which is available through this link. 20.28% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Central Garden & Pet by 6.1% in the 4th quarter. BlackRock Inc. now owns 7,243,501 shares of the company’s stock valued at $346,600,000 after purchasing an additional 414,760 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Central Garden & Pet by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 4,371,134 shares of the company’s stock valued at $178,254,000 after purchasing an additional 72,345 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Central Garden & Pet by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,432,630 shares of the company’s stock valued at $99,205,000 after purchasing an additional 12,052 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Central Garden & Pet by 7.6% in the 4th quarter. Champlain Investment Partners LLC now owns 1,771,670 shares of the company’s stock valued at $84,774,000 after purchasing an additional 124,430 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Central Garden & Pet in the 4th quarter valued at $73,756,000. 68.74% of the stock is owned by institutional investors.

Central Garden & Pet Company Profile (Get Rating)

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 grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for horses and livestock, as well as outdoor cushions and pillows.

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