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

StockNews.com upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a hold rating to a buy rating in a report published on Friday morning.

Other equities analysts have also issued research reports about the company. Truist Financial raised their price objective on Central Garden & Pet from $50.00 to $60.00 and gave the company a buy rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Central Garden & Pet from $40.00 to $43.00 and gave the company a neutral rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $45.00.

Central Garden & Pet Trading Up 0.6 %

Shares of CENTA opened at $34.71 on Friday. The firm’s 50 day simple moving average is $36.14 and its 200 day simple moving average is $30.97. The company has a market capitalization of $2.33 billion, a P/E ratio of 17.22 and a beta of 0.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 1.55. Central Garden & Pet has a 1-year low of $27.02 and a 1-year high of $39.55.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.15. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. The business had revenue of $634.53 million for the quarter, compared to analysts’ expectations of $620.11 million. Sell-side analysts forecast that Central Garden & Pet will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, CAO Howard Machek sold 5,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the completion of the sale, the chief accounting officer now directly owns 59,406 shares in the company, valued at $2,162,378.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Central Garden & Pet news, insider John Edward Hanson sold 5,321 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $37.19, for a total value of $197,887.99. Following the completion of the sale, the insider now directly owns 35,460 shares in the company, valued at $1,318,757.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Howard Machek sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the completion of 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 have sold 25,822 shares of company stock valued at $965,026 in the last quarter. 20.28% of the stock is owned by insiders.

Institutional Trading of Central Garden & Pet

Several hedge funds and other institutional investors have recently bought and sold shares of CENTA. Maryland State Retirement & Pension System lifted its position in shares of Central Garden & Pet by 30.9% in the first quarter. Maryland State Retirement & Pension System now owns 19,502 shares of the company’s stock valued at $664,000 after acquiring an additional 4,602 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Central Garden & Pet by 30.5% during the first quarter. State of Alaska Department of Revenue now owns 32,896 shares of the company’s stock worth $1,214,000 after buying an additional 7,693 shares in the last quarter. Olstein Capital Management L.P. lifted its position in Central Garden & Pet by 13.7% during the first quarter. Olstein Capital Management L.P. now owns 83,000 shares of the company’s stock worth $3,064,000 after buying an additional 10,000 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Central Garden & Pet by 29.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,087,178 shares of the company’s stock worth $77,059,000 after buying an additional 480,805 shares in the last quarter. Finally, Diversified Trust Co lifted its position in Central Garden & Pet by 54.2% during the first quarter. Diversified Trust Co now owns 19,670 shares of the company’s stock worth $726,000 after buying an additional 6,915 shares in the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

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.