Central Garden & Pet (NASDAQ:CENT) Price Target Cut to $45.00 by Analysts at Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENT) had its price objective trimmed by Canaccord Genuity Group from $48.00 to $45.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Truist Financial dropped 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. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $46.75.

Central Garden & Pet Stock Down 1.0 %

Central Garden & Pet stock opened at $39.75 on Tuesday. The business has a fifty day moving average price of $35.90 and a 200-day moving average price of $38.61. Central Garden & Pet has a 1-year low of $31.31 and a 1-year high of $47.48. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 24.47 and a beta of 0.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.16.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in Central Garden & Pet by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock worth $157,000 after purchasing an additional 1,016 shares in the last quarter. Barclays PLC increased its stake in Central Garden & Pet by 51.4% during the 3rd quarter. Barclays PLC now owns 34,944 shares of the company’s stock worth $1,275,000 after buying an additional 11,865 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Central Garden & Pet during the third quarter valued at approximately $258,000. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Central Garden & Pet by 1.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 148,910 shares of the company’s stock valued at $5,431,000 after acquiring an additional 2,450 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after acquiring an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 16.13% of the company’s stock.

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.