Central Garden & Pet (NASDAQ:CENTA) Rating Increased to Buy at StockNews.com

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

A number of other equities research analysts have also recently commented on the stock. Monness Crespi & Hardt increased their target price on shares of Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial boosted their target price on Central Garden & Pet from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their price target on Central Garden & Pet from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.25.

Central Garden & Pet Price Performance

NASDAQ:CENTA opened at $39.99 on Friday. The stock has a 50 day moving average of $35.89 and a two-hundred day moving average of $31.86. Central Garden & Pet has a 12 month low of $27.02 and a 12 month high of $40.18. The firm has a market cap of $2.69 billion, a P/E ratio of 19.80 and a beta of 0.70. 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 issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.15. The firm had revenue of $634.53 million during the quarter, compared to analysts’ expectations of $620.11 million. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. On average, analysts expect that Central Garden & Pet will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at Central Garden & Pet

In other news, CAO Howard Machek sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the transaction, the chief accounting officer now owns 59,406 shares of the company’s stock, valued at approximately $2,162,378.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Central Garden & Pet news, CFO Nicholas Lahanas sold 13,101 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 115,796 shares of the company’s stock, valued at $4,358,561.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Howard Machek sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the transaction, the chief accounting officer now owns 59,406 shares of the company’s stock, valued at $2,162,378.40. The disclosure for this sale can be found here. Insiders sold 25,822 shares of company stock worth $965,026 in the last 90 days. Insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Several hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Central Garden & Pet by 53.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,032 shares of the company’s stock valued at $939,000 after purchasing an additional 8,338 shares during the period. William Blair Investment Management LLC boosted its position in Central Garden & Pet by 24.9% in the 1st quarter. William Blair Investment Management LLC now owns 1,090,060 shares of the company’s stock valued at $40,245,000 after buying an additional 217,006 shares during the period. ProShare Advisors LLC grew its stake in shares of Central Garden & Pet by 40.8% in the first quarter. ProShare Advisors LLC now owns 10,462 shares of the company’s stock worth $386,000 after acquiring an additional 3,032 shares in the last quarter. Sei Investments Co. increased its position in shares of Central Garden & Pet by 53.2% during the first quarter. Sei Investments Co. now owns 34,773 shares of the company’s stock worth $1,284,000 after acquiring an additional 12,068 shares during the period. Finally, Swiss National Bank raised its stake in shares of Central Garden & Pet by 32.3% in the first quarter. Swiss National Bank now owns 106,937 shares of the company’s stock valued at $3,948,000 after acquiring an additional 26,137 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

About Central Garden & Pet

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.