Central Garden & Pet (NASDAQ:CENTA) Receives Average Recommendation of “Buy” from Analysts

Central Garden & Pet (NASDAQ:CENTA) has earned a consensus recommendation of “Buy” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $41.33.

Several analysts have recently weighed in on CENTA shares. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Central Garden & Pet Price Performance

Shares of NASDAQ CENTA opened at $33.18 on Monday. The stock’s 50-day simple moving average is $30.80 and its 200-day simple moving average is $33.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. The firm has a market capitalization of $2.24 billion, a PE ratio of 15.30 and a beta of 0.73. Central Garden & Pet has a fifty-two week low of $27.70 and a fifty-two week high of $41.03.

Insiders Place Their Bets

In related 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 value 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 5.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CENTA. Quarry LP raised its holdings in shares of Central Garden & Pet by 503.2% in the second quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after acquiring an additional 629 shares during the last quarter. Federated Hermes Inc. acquired a new position in Central Garden & Pet in the 2nd quarter valued at about $26,000. CWM LLC raised its stake in Central Garden & Pet by 3,558.1% in the 2nd quarter. CWM LLC now owns 1,134 shares of the company’s stock valued at $37,000 after purchasing an additional 1,103 shares during the last quarter. Quest Partners LLC purchased a new position in Central Garden & Pet in the 2nd quarter valued at about $37,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Central Garden & Pet by 37.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock worth $61,000 after purchasing an additional 449 shares during the last quarter. Institutional investors and hedge funds 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.