Central Garden & Pet (NASDAQ:CENT) Receives Consensus Rating of “Buy” from Analysts

Shares of Central Garden & Pet (NASDAQ:CENT) have been assigned an average recommendation of “Buy” from the five research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $46.75.

Several research firms have weighed in on CENT. Argus lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Truist Financial lowered their price target on 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. Finally, Canaccord Genuity Group decreased their price objective on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, November 26th.

Institutional Trading of Central Garden & Pet

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in shares of Central Garden & Pet by 1.1% during the fourth quarter. Rhumbline Advisers now owns 29,052 shares of the company’s stock worth $1,127,000 after buying an additional 314 shares in the last quarter. Glenmede Trust Co. NA increased its position in Central Garden & Pet by 23.2% during 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 period. BNP Paribas Financial Markets raised its stake in Central Garden & Pet by 5.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock worth $330,000 after purchasing an additional 464 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Central Garden & Pet by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after purchasing an additional 1,016 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Central Garden & Pet by 693.6% in the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock valued at $48,000 after purchasing an additional 1,089 shares during the period. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Stock Up 8.3 %

CENT opened at $40.16 on Friday. Central Garden & Pet has a twelve month low of $32.17 and a twelve month high of $47.48. The firm’s 50-day simple moving average is $38.38 and its 200-day simple moving average is $37.66. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 24.82 and a beta of 0.79.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. Equities research analysts anticipate that Central Garden & Pet will post 2.22 EPS for the current fiscal year.

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.