Central Garden & Pet (NASDAQ:CENT) Receives Average Recommendation of “Buy” from Analysts

Central Garden & Pet (NASDAQ:CENT) has earned an average recommendation of “Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $52.50.

A number of equities analysts have issued reports on CENT shares. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $48.00 price target on shares of Central Garden & Pet in a research note on Monday, September 30th.

Central Garden & Pet Stock Performance

Shares of CENT stock opened at $33.69 on Monday. Central Garden & Pet has a 12-month low of $30.75 and a 12-month high of $47.48. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 15.11 and a beta of 0.75. The business has a 50 day simple moving average of $38.35 and a 200 day simple moving average of $40.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. The firm had revenue of $996.35 million during the quarter, compared to analyst estimates of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the company posted $1.40 EPS. On average, equities research analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current year.

Insider Transactions at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the sale, the director now directly owns 40,743 shares of the company’s stock, valued at $1,336,370.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,986 shares of company stock valued at $2,146,841 in the last three months. 9.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Central Garden & Pet

Large investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its stake in shares of Central Garden & Pet by 92.6% during the 1st quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock worth $2,189,000 after acquiring an additional 24,575 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Central Garden & Pet by 32.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after purchasing an additional 10,237 shares in the last quarter. Orchard Capital Management LLC lifted its holdings in shares of Central Garden & Pet by 5.6% in the fourth quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock valued at $8,474,000 after purchasing an additional 8,914 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Central Garden & Pet by 24.5% in the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock valued at $6,262,000 after purchasing an additional 32,009 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Central Garden & Pet by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock valued at $3,345,000 after purchasing an additional 1,873 shares in the last quarter. 16.13% of the stock is owned by institutional investors.

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.