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

Shares of Central Garden & Pet (NASDAQ:CENT) have received an average recommendation of “Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $46.75.

A number of research firms have recently commented on CENT. Truist Financial lowered their target price 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. Canaccord Genuity Group lowered their price objective on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its holdings in shares of Central Garden & Pet by 693.6% during the fourth quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock valued at $48,000 after acquiring an additional 1,089 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Central Garden & Pet during the 2nd quarter valued at about $51,000. Glenmede Trust Co. NA increased its stake in Central Garden & Pet by 23.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after purchasing an additional 395 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Central Garden & Pet in the second quarter worth about $113,000. Finally, SG Americas Securities LLC bought a new position in shares of Central Garden & Pet in the third quarter worth approximately $111,000. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Performance

NASDAQ:CENT opened at $35.80 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 3.66 and a debt-to-equity ratio of 0.76. Central Garden & Pet has a twelve month low of $32.17 and a twelve month high of $47.48. The stock has a market cap of $2.35 billion, a P/E ratio of 22.13 and a beta of 0.79. The firm’s fifty day simple moving average is $38.66 and its 200 day simple moving average is $37.94.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings results on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The company had revenue of $669.49 million for the quarter, compared to analysts’ expectations of $707.83 million. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. As a group, research analysts predict that Central Garden & Pet will post 2.22 EPS for the current 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.