Analysts Set Central Garden & Pet (NASDAQ:CENT) Target Price at $47.50

Shares of Central Garden & Pet (NASDAQ:CENT) have received a consensus rating of “Buy” from the five analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $47.50.

A number of research analysts have issued reports on CENT shares. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 target price on shares of Central Garden & Pet in a research note on Monday, September 30th. Truist Financial reduced their target price on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th.

Insider Transactions at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value 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 approximately $37,758,426.42. This represents a 5.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.53% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in shares of Central Garden & Pet in the 2nd quarter worth approximately $51,000. Glenmede Trust Co. NA raised its holdings in shares of Central Garden & Pet by 23.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after purchasing an additional 395 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Central Garden & Pet in the 2nd quarter worth approximately $113,000. SG Americas Securities LLC bought a new stake in shares of Central Garden & Pet in the 3rd quarter worth approximately $111,000. Finally, EntryPoint Capital LLC raised its holdings in shares of Central Garden & Pet by 909.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after purchasing an additional 3,846 shares in the last quarter. 16.13% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Trading Up 2.6 %

Central Garden & Pet stock opened at $38.36 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $35.78 and a two-hundred day moving average price of $38.75. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 17.69 and a beta of 0.75. Central Garden & Pet has a 52-week low of $31.31 and a 52-week high of $47.48.

Central Garden & Pet Company Profile

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.