Central Garden & Pet (NASDAQ:CENTA) Stock Rating Lowered by StockNews.com

Central Garden & Pet (NASDAQ:CENTA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

A number of other research analysts also recently commented on the stock. Canaccord Genuity Group raised shares of Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. JPMorgan Chase & Co. dropped their price objective on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Central Garden & Pet has an average rating of “Buy” and an average price target of $41.33.

Central Garden & Pet Stock Performance

NASDAQ:CENTA opened at $29.95 on Wednesday. The firm has a market capitalization of $2.02 billion, a PE ratio of 13.43 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The business’s fifty day moving average price is $32.35 and its 200 day moving average price is $34.21. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03.

Central Garden & Pet (NASDAQ:CENTA) last issued its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $996.35 million for the quarter, compared to analyst estimates of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. During the same quarter last year, the company earned $1.40 EPS. On average, sell-side analysts anticipate that Central Garden & Pet will post 2.11 earnings per share for the current fiscal 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 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 owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the sale, the director now owns 40,743 shares in the company, valued at approximately $1,336,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,986 shares of company stock worth $2,146,841 over the last 90 days. 20.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors have recently modified their holdings of the company. Quarry LP raised its holdings in Central Garden & Pet by 503.2% during the second quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after purchasing an additional 629 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Central Garden & Pet during the 2nd quarter worth $26,000. CWM LLC boosted its position in shares of Central Garden & Pet by 3,558.1% in the 2nd quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after buying an additional 1,103 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Central Garden & Pet in the 2nd quarter worth about $37,000. Finally, GAMMA Investing LLC grew its stake in Central Garden & Pet by 61.3% in the 1st quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock valued at $50,000 after acquiring an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

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.