FY2017 EPS Estimates for Central Garden & Pet Company Increased by Analyst (CENT)

Central Garden & Pet Company (NASDAQ:CENT) – Research analysts at Oppenheimer Holdings upped their FY2017 earnings per share (EPS) estimates for Central Garden & Pet in a report issued on Thursday. Oppenheimer Holdings analyst B. Nagel now anticipates that the company will post earnings of $1.52 per share for the year, up from their prior forecast of $1.44. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Central Garden & Pet’s Q4 2017 earnings at $0.12 EPS.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.11. Central Garden & Pet had a net margin of 3.49% and a return on equity of 13.66%. The company had revenue of $574.59 million during the quarter, compared to the consensus estimate of $544.26 million. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis.

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Several other research firms have also recently issued reports on CENT. Zacks Investment Research upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, April 25th. Argus assumed coverage on shares of Central Garden & Pet in a research note on Wednesday, April 19th. They issued a “buy” rating and a $44.00 target price on the stock. BidaskClub upgraded shares of Central Garden & Pet from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Sidoti upgraded shares of Central Garden & Pet from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. Finally, CL King assumed coverage on shares of Central Garden & Pet in a research note on Friday, July 7th. They issued a “buy” rating and a $38.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $39.00.

Central Garden & Pet (NASDAQ:CENT) opened at 35.62 on Monday. Central Garden & Pet has a 12 month low of $22.97 and a 12 month high of $39.33. The firm’s 50-day moving average is $32.02 and its 200 day moving average is $33.93. The firm has a market capitalization of $1.84 billion, a P/E ratio of 26.86 and a beta of 0.12.

In other news, insider Michael A. Reed sold 15,107 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $33.21, for a total transaction of $501,703.47. Following the sale, the insider now owns 142,558 shares in the company, valued at approximately $4,734,351.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Ranelli sold 22,563 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $30.49, for a total transaction of $687,945.87. Following the sale, the director now owns 39,385 shares in the company, valued at approximately $1,200,848.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,382 shares of company stock worth $2,613,603. Corporate insiders own 11.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of CENT. Bank of New York Mellon Corp boosted its stake in Central Garden & Pet by 12.4% in the first quarter. Bank of New York Mellon Corp now owns 168,950 shares of the company’s stock valued at $6,261,000 after buying an additional 18,644 shares during the period. Eqis Capital Management Inc. boosted its position in shares of Central Garden & Pet by 12.3% in the first quarter. Eqis Capital Management Inc. now owns 25,759 shares of the company’s stock worth $955,000 after buying an additional 2,814 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Central Garden & Pet by 11.3% in the first quarter. Great West Life Assurance Co. Can now owns 13,514 shares of the company’s stock worth $501,000 after buying an additional 1,369 shares during the last quarter. Camelot Portfolios LLC acquired a new position in shares of Central Garden & Pet during the first quarter worth approximately $328,000. Finally, Wells Fargo & Company MN boosted its position in shares of Central Garden & Pet by 7.6% in the first quarter. Wells Fargo & Company MN now owns 838,948 shares of the company’s stock worth $31,099,000 after buying an additional 59,091 shares during the last quarter. Hedge funds and other institutional investors own 21.19% of the company’s stock.

Central Garden & Pet Company Profile

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

Earnings History and Estimates for Central Garden & Pet (NASDAQ:CENT)

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