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

Shares of Central Garden & Pet (NASDAQ:CENT) have been given an average recommendation of “Buy” by the five research firms that are currently covering the firm, Marketbeat.com reports. Three 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 analysts that have issued a report on the stock in the last year is $47.50.

Several research firms recently commented on CENT. Truist Financial cut their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $48.00 target price on shares of Central Garden & Pet in a research report on Monday, September 30th.

Central Garden & Pet Trading Up 1.1 %

CENT opened at $34.61 on Friday. The firm’s 50 day moving average is $36.56 and its 200-day moving average is $39.23. Central Garden & Pet has a 52-week low of $30.75 and a 52-week high of $47.48. 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 market capitalization of $2.33 billion, a P/E ratio of 15.52 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.11. The firm had revenue of $996.35 million for the quarter, compared to the consensus estimate of $1 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. Analysts expect that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the company’s 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 sale, the chairman now owns 1,125,773 shares in the company, valued at $37,758,426.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director John Ranelli sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now directly owns 822 shares in the company, valued at approximately $28,178.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,986 shares of company stock worth $2,146,841. Corporate insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

A number of large investors have recently bought and sold shares of CENT. DekaBank Deutsche Girozentrale bought a new stake in Central Garden & Pet in the second quarter valued at $51,000. Point72 Asset Management L.P. bought a new stake in Central Garden & Pet in the 2nd quarter valued at about $113,000. SG Americas Securities LLC acquired a new position in Central Garden & Pet during the 3rd quarter valued at about $111,000. EntryPoint Capital LLC grew its position in 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 during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Central Garden & Pet in the second quarter valued at approximately $187,000. Institutional investors own 16.13% 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.