BidaskClub upgraded shares of Central Garden & Pet (NASDAQ:CENT) from a hold rating to a buy rating in a report released on Friday, BidAskClub reports.

Separately, SunTrust Banks cut Central Garden & Pet from a buy rating to a hold rating and set a $30.00 price target for the company. in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $34.33.

Shares of NASDAQ:CENT opened at $28.31 on Friday. The stock has a fifty day simple moving average of $25.80 and a two-hundred day simple moving average of $27.47. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 14.82 and a beta of -0.04. Central Garden & Pet has a 12-month low of $22.40 and a 12-month high of $40.59. The company has a current ratio of 4.84, a quick ratio of 3.17 and a debt-to-equity ratio of 0.67.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.06). Central Garden & Pet had a net margin of 4.30% and a return on equity of 9.66%. The company had revenue of $706.60 million for the quarter, compared to analysts’ expectations of $685.99 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts predict that Central Garden & Pet will post 1.73 EPS for the current year.

In other Central Garden & Pet news, Director Thomas J. Colligan purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $21.92 per share, for a total transaction of $87,680.00. Following the completion of the purchase, the director now directly owns 9,079 shares of the company’s stock, valued at $199,011.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.35% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Private Capital Group LLC raised its stake in shares of Central Garden & Pet by 308.8% in the second quarter. Private Capital Group LLC now owns 924 shares of the company’s stock worth $40,000 after purchasing an additional 698 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Central Garden & Pet by 621.7% in the second quarter. Bank of Montreal Can now owns 1,032 shares of the company’s stock worth $28,000 after purchasing an additional 889 shares during the last quarter. Mint Tower Capital Management B.V. purchased a new position in shares of Central Garden & Pet in the first quarter worth $50,000. Huntington National Bank raised its stake in shares of Central Garden & Pet by 27.9% in the second quarter. Huntington National Bank now owns 1,973 shares of the company’s stock worth $53,000 after purchasing an additional 430 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Central Garden & Pet by 611.5% in the first quarter. BNP Paribas Arbitrage SA now owns 2,405 shares of the company’s stock worth $61,000 after purchasing an additional 2,067 shares during the last quarter. Hedge funds and other institutional investors own 22.47% 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, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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