Central Garden & Pet (NASDAQ:CENTA) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a hold rating to a buy rating in a report released on Thursday morning.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Central Garden & Pet from $40.00 to $43.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Truist Financial increased their target price on shares of Central Garden & Pet from $50.00 to $60.00 and gave the company a buy rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Central Garden & Pet currently has an average rating of Moderate Buy and a consensus price target of $45.00.

Central Garden & Pet Stock Up 1.2 %

Shares of NASDAQ CENTA traded up $0.42 during mid-day trading on Thursday, reaching $36.31. The company had a trading volume of 178,022 shares, compared to its average volume of 166,201. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82. The firm has a 50 day simple moving average of $35.93 and a two-hundred day simple moving average of $31.59. The stock has a market cap of $2.44 billion, a P/E ratio of 18.01 and a beta of 0.70. Central Garden & Pet has a 52-week low of $27.02 and a 52-week high of $39.55.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.15. The firm had revenue of $634.53 million for the quarter, compared to the consensus estimate of $620.11 million. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. Sell-side analysts predict that Central Garden & Pet will post 2.37 earnings per share for the current year.

Insider Activity

In other news, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $37.64, for a total value of $493,121.64. Following the sale, the chief financial officer now owns 115,796 shares of the company’s stock, valued at $4,358,561.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John Ranelli sold 2,400 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $38.34, for a total value of $92,016.00. Following the completion of the sale, the director now owns 41 shares in the company, valued at $1,571.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas Lahanas sold 13,101 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $37.64, for a total transaction of $493,121.64. Following the completion of the sale, the chief financial officer now owns 115,796 shares of the company’s stock, valued at approximately $4,358,561.44. The disclosure for this sale can be found here. Insiders have sold a total of 25,822 shares of company stock valued at $965,026 over the last quarter. Corporate insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Central Garden & Pet during the third quarter worth about $920,000. Exchange Traded Concepts LLC raised its position in Central Garden & Pet by 538.6% during the third quarter. Exchange Traded Concepts LLC now owns 1,456 shares of the company’s stock worth $58,000 after acquiring an additional 1,228 shares during the last quarter. Raymond James & Associates raised its position in Central Garden & Pet by 6.7% during the third quarter. Raymond James & Associates now owns 15,406 shares of the company’s stock worth $618,000 after acquiring an additional 970 shares during the last quarter. New York State Teachers Retirement System raised its position in Central Garden & Pet by 0.6% during the third quarter. New York State Teachers Retirement System now owns 91,749 shares of the company’s stock worth $3,678,000 after acquiring an additional 550 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Central Garden & Pet by 27.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,978 shares of the company’s stock worth $320,000 after acquiring an additional 1,713 shares during the last quarter. Institutional investors and hedge funds own 50.82% 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.