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 research report report published on Friday.

Several other equities research analysts also recently weighed in on CENTA. JPMorgan Chase & Co. lifted their price target on shares of Central Garden & Pet from $40.00 to $43.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Truist Financial boosted their target price on shares of Central Garden & Pet from $50.00 to $60.00 and gave the stock a buy rating in a research report on Friday, February 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of Moderate Buy and a consensus target price of $45.00.

Central Garden & Pet Price Performance

CENTA stock opened at $34.71 on Friday. Central Garden & Pet has a 12-month low of $27.02 and a 12-month high of $39.55. The company has a quick ratio of 1.55, a current ratio of 3.47 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 17.22 and a beta of 0.69. The company’s fifty day simple moving average is $36.14 and its 200 day simple moving average is $30.97.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $634.53 million during the quarter, compared to the consensus estimate of $620.11 million. On average, analysts expect that Central Garden & Pet will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John Ranelli sold 2,400 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $38.34, for a total transaction of $92,016.00. Following the transaction, the director now directly owns 41 shares in the company, valued at $1,571.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Central Garden & Pet news, CAO Howard Machek sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $36.40, for a total value of $182,000.00. Following the transaction, 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director John Ranelli sold 2,400 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $38.34, for a total transaction of $92,016.00. Following the completion of the transaction, the director now owns 41 shares in the company, valued at $1,571.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,822 shares of company stock worth $965,026. 20.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CENTA. Jump Financial LLC purchased a new stake in shares of Central Garden & Pet during the 3rd quarter valued at approximately $282,000. Raymond James & Associates increased its holdings in Central Garden & Pet by 6.7% during the 3rd quarter. Raymond James & Associates now owns 15,406 shares of the company’s stock worth $618,000 after acquiring an additional 970 shares during the period. Illinois Municipal Retirement Fund bought a new stake in Central Garden & Pet during the 3rd quarter worth approximately $1,237,000. Assenagon Asset Management S.A. increased its holdings in Central Garden & Pet by 99.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 235,008 shares of the company’s stock worth $9,421,000 after acquiring an additional 117,037 shares during the period. Finally, CQS US LLC increased its holdings in Central Garden & Pet by 370.9% during the 3rd quarter. CQS US LLC now owns 163,546 shares of the company’s stock worth $6,557,000 after acquiring an additional 128,818 shares during the period. 50.82% of the stock is currently owned by hedge funds and other 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.