Central Garden & Pet (NASDAQ:CENTA) Upgraded at Wall Street Zen

Central Garden & Pet (NASDAQ:CENTA) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. reduced their price target on Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Canaccord Genuity Group lifted their price target on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Truist Financial reiterated a “hold” rating and set a $35.00 price target (down previously from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $38.67.

Central Garden & Pet Price Performance

Central Garden & Pet stock opened at $30.70 on Friday. The company’s fifty day moving average price is $33.14 and its 200 day moving average price is $32.16. Central Garden & Pet has a 1 year low of $27.70 and a 1 year high of $37.35. The stock has a market capitalization of $2.01 billion, a P/E ratio of 13.95 and a beta of 0.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.93 and a current ratio of 3.56.

Central Garden & Pet (NASDAQ:CENTA) last announced its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.22. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The company had revenue of $960.91 million for the quarter, compared to analysts’ expectations of $993.66 million. As a group, equities research analysts anticipate that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 7,800 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $32.04, for a total transaction of $249,912.00. Following the sale, the chairman owned 377,383 shares of the company’s stock, valued at approximately $12,091,351.32. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 107,800 shares of company stock worth $3,490,112 in the last 90 days. 20.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Central Garden & Pet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Central Garden & Pet by 4.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,652 shares of the company’s stock valued at $447,000 after acquiring an additional 604 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Central Garden & Pet in the 1st quarter valued at $573,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Central Garden & Pet in the 1st quarter valued at $224,000. NorthRock Partners LLC acquired a new position in shares of Central Garden & Pet in the 4th quarter valued at $1,922,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Central Garden & Pet by 6.0% in the 4th quarter. Ameriprise Financial Inc. now owns 197,652 shares of the company’s stock valued at $6,532,000 after acquiring an additional 11,242 shares during the period. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Company Profile

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.