Analysts Set Central Garden & Pet (NASDAQ:CENT) Price Target at $46.75

Central Garden & Pet (NASDAQ:CENT) has received an average recommendation of “Buy” from the five research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $46.75.

A number of analysts have weighed in on CENT shares. Truist Financial reduced 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 report on Wednesday, October 16th. Canaccord Genuity Group reduced their target price on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Central Garden & Pet during the 2nd quarter valued at about $51,000. Glenmede Trust Co. NA lifted its stake in Central Garden & Pet by 23.2% during the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after purchasing an additional 395 shares during the period. SG Americas Securities LLC acquired a new stake in Central Garden & Pet during the third quarter valued at approximately $111,000. Point72 Asset Management L.P. bought a new stake in shares of Central Garden & Pet in the 2nd quarter valued at approximately $113,000. Finally, Franklin Resources Inc. raised its holdings in shares of Central Garden & Pet by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock worth $157,000 after buying an additional 1,016 shares in the last quarter. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Price Performance

NASDAQ CENT opened at $40.69 on Friday. The stock has a 50-day simple moving average of $37.04 and a 200 day simple moving average of $38.07. Central Garden & Pet has a twelve month low of $32.17 and a twelve month high of $47.48. The stock has a market capitalization of $2.67 billion, a PE ratio of 25.12 and a beta of 0.81. 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 (NASDAQ:CENT) last issued its quarterly earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The company had revenue of $669.49 million during the quarter, compared to analyst estimates of $707.83 million. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. Central Garden & Pet’s revenue for the quarter was down 10.8% on a year-over-year basis. Research analysts anticipate that Central Garden & Pet will post 2.22 EPS for the current year.

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.