Central Garden & Pet (NASDAQ:CENTA) Upgraded to “Buy” by StockNews.com

Central Garden & Pet (NASDAQ:CENTA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

CENTA has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on Central Garden & Pet from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Truist Financial boosted their price target on Central Garden & Pet from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Central Garden & Pet presently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Central Garden & Pet Stock Up 1.9 %

Shares of NASDAQ:CENTA opened at $34.52 on Friday. The stock has a fifty day simple moving average of $36.20 and a two-hundred day simple moving average of $30.87. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 17.12 and a beta of 0.69. Central Garden & Pet has a 12-month low of $27.02 and a 12-month high of $39.55. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.15. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The firm had revenue of $634.53 million during the quarter, compared to analysts’ expectations of $620.11 million. On average, research analysts anticipate that Central Garden & Pet will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John Ranelli sold 2,400 shares of Central Garden & Pet stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total value of $92,016.00. Following the completion of the sale, the director now owns 41 shares of the company’s stock, valued at $1,571.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John Ranelli sold 2,400 shares of Central Garden & Pet stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total value of $92,016.00. Following the completion of the sale, the director now owns 41 shares of the company’s stock, valued at $1,571.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet stock in a transaction on Monday, February 12th. The stock was sold at an average price of $37.64, for a total value of $493,121.64. Following the completion of the sale, the chief financial officer now directly owns 115,796 shares of the company’s stock, valued at approximately $4,358,561.44. The disclosure for this sale can be found here. Insiders sold 25,822 shares of company stock valued at $965,026 over the last 90 days. Company insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

Hedge funds have recently bought and sold shares of the stock. Jump Financial LLC bought a new stake in Central Garden & Pet during the third quarter valued at about $282,000. Raymond James & Associates grew its holdings in Central Garden & Pet by 6.7% during the third quarter. Raymond James & Associates now owns 15,406 shares of the company’s stock valued at $618,000 after purchasing an additional 970 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of Central Garden & Pet in the third quarter worth about $1,237,000. Assenagon Asset Management S.A. boosted its stake in shares of Central Garden & Pet by 99.2% in the third quarter. Assenagon Asset Management S.A. now owns 235,008 shares of the company’s stock worth $9,421,000 after acquiring an additional 117,037 shares during the period. Finally, CQS US LLC boosted its stake in shares of Central Garden & Pet by 370.9% in the third quarter. CQS US LLC now owns 163,546 shares of the company’s stock worth $6,557,000 after acquiring an additional 128,818 shares during the period. Institutional investors own 50.82% 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.