BidaskClub upgraded shares of Central Garden & Pet (NASDAQ:CENT) from a strong sell rating to a sell rating in a research note published on Tuesday.

CENT has been the subject of a number of other reports. ValuEngine lowered shares of Central Garden & Pet from a buy rating to a hold rating in a research note on Tuesday, July 24th. JPMorgan Chase & Co. started coverage on shares of Central Garden & Pet in a research note on Tuesday, September 25th. They issued a neutral rating and a $37.00 price objective for the company. Bank of America started coverage on shares of Central Garden & Pet in a research note on Monday, September 10th. They issued a buy rating and a $44.00 price objective for the company. Zacks Investment Research lowered shares of Central Garden & Pet from a buy rating to a hold rating in a research note on Tuesday, July 10th. Finally, BMO Capital Markets started coverage on shares of Central Garden & Pet in a research note on Monday, August 13th. They issued a buy rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $44.57.

Central Garden & Pet stock opened at $32.71 on Tuesday. Central Garden & Pet has a 1-year low of $32.52 and a 1-year high of $45.02. The company has a market capitalization of $1.88 billion, a P/E ratio of 22.85 and a beta of -0.16. The company has a quick ratio of 2.57, a current ratio of 4.42 and a debt-to-equity ratio of 0.93.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings data on Wednesday, August 1st. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). Central Garden & Pet had a net margin of 5.32% and a return on equity of 14.69%. The business had revenue of $657.90 million during the quarter, compared to analysts’ expectations of $607.34 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts forecast that Central Garden & Pet will post 1.9 EPS for the current year.

In other news, Director Brooks Pennington III sold 1,977 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $36.30, for a total transaction of $71,765.10. Following the completion of the transaction, the director now directly owns 40,851 shares in the company, valued at approximately $1,482,891.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zacks Investment Management purchased a new position in shares of Central Garden & Pet during the 2nd quarter valued at $369,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Central Garden & Pet by 23.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 72,956 shares of the company’s stock worth $3,138,000 after acquiring an additional 13,968 shares during the last quarter. Earnest Partners LLC bought a new stake in shares of Central Garden & Pet during the 2nd quarter worth $7,687,000. BlackRock Inc. lifted its holdings in shares of Central Garden & Pet by 2.7% during the 1st quarter. BlackRock Inc. now owns 1,490,348 shares of the company’s stock worth $64,084,000 after acquiring an additional 39,159 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Central Garden & Pet by 407.3% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,685 shares of the company’s stock worth $323,000 after acquiring an additional 6,170 shares during the last quarter. Hedge funds and other institutional investors own 23.49% of the company’s stock.

Central Garden & Pet Company Profile

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats comprising edible bones, edible and non-edible chews, rawhide, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and food, cages and habitats, toys, chews, and related accessories for birds, small animals, and specialty pets.

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Analyst Recommendations for Central Garden & Pet (NASDAQ:CENT)

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