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

Shares of Central Garden & Pet (NASDAQ:CENT) have been assigned a consensus rating of “Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. Three 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 analysts that have updated their coverage on the stock in the last year is $47.50.

A number of analysts have weighed in on CENT shares. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 target price on shares of Central Garden & Pet in a research report on Monday, September 30th. Truist Financial reduced their price objective on shares of 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.

Central Garden & Pet Trading Up 0.3 %

Shares of CENT stock opened at $37.02 on Tuesday. Central Garden & Pet has a 1-year low of $30.75 and a 1-year high of $47.48. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 17.08 and a beta of 0.75. The stock has a 50-day moving average of $35.76 and a 200-day moving average of $38.81.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. This trade represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in Central Garden & Pet by 32.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after purchasing an additional 10,237 shares during the period. American Century Companies Inc. grew its holdings in shares of Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock valued at $6,262,000 after buying an additional 32,009 shares during the last quarter. Marshall Wace LLP increased its position in shares of Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after acquiring an additional 74,100 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Central Garden & Pet by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after acquiring an additional 1,873 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Central Garden & Pet during the 2nd quarter valued at about $295,000. 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.