JPMorgan Chase & Co. Lowers Central Garden & Pet (NASDAQ:CENTA) Price Target to $31.00

Central Garden & Pet (NASDAQ:CENTA) had its price objective cut by JPMorgan Chase & Co. from $34.00 to $31.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 2.27% from the stock’s previous close.

Several other equities analysts have also issued reports on CENTA. StockNews.com upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Argus lowered Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Central Garden & Pet presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Central Garden & Pet Stock Up 1.2 %

Shares of CENTA stock opened at $31.72 on Friday. The stock’s 50 day simple moving average is $32.03 and its 200 day simple moving average is $31.81. Central Garden & Pet has a twelve month low of $27.70 and a twelve month high of $41.03. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 17.43 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. As a group, research analysts predict that Central Garden & Pet will post 2.38 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In other news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the sale, the insider now owns 67,111 shares in the company, valued at $2,205,267.46. The trade was a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Hedge funds have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC raised its holdings in Central Garden & Pet by 89.8% in the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company’s stock worth $22,667,000 after purchasing an additional 324,493 shares during the period. Vanguard Group Inc. raised its stake in Central Garden & Pet by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 5,979,003 shares of the company’s stock worth $197,606,000 after buying an additional 306,449 shares during the period. Norges Bank bought a new position in Central Garden & Pet during the fourth quarter worth about $8,245,000. American Century Companies Inc. grew its stake in Central Garden & Pet by 14.1% in the fourth quarter. American Century Companies Inc. now owns 1,373,100 shares of the company’s stock valued at $45,381,000 after acquiring an additional 170,121 shares during the period. Finally, Credit Industriel ET Commercial bought a new stake in shares of Central Garden & Pet in the fourth quarter worth about $4,818,000. Institutional investors and hedge funds own 50.82% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.