Central Garden & Pet (NASDAQ:CENTA) Upgraded by StockNews.com to Buy

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

A number of other equities research analysts have also recently commented on CENTA. JPMorgan Chase & Co. upped their price objective on Central Garden & Pet from $40.00 to $43.00 and gave the company a neutral rating in a report on Thursday, February 8th. Truist Financial upped 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 note on Friday, February 9th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $45.00.

Central Garden & Pet Price Performance

CENTA stock traded up $0.42 during trading on Thursday, hitting $36.31. The company had a trading volume of 178,022 shares, compared to its average volume of 166,201. The company has a fifty day moving average price of $35.93 and a two-hundred day moving average price of $31.55. Central Garden & Pet has a fifty-two week low of $27.02 and a fifty-two week high of $39.55. The company has a market cap of $2.44 billion, a P/E ratio of 18.01 and a beta of 0.70. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.15. The firm had revenue of $634.53 million during 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%. Equities research analysts expect that Central Garden & Pet will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at Central Garden & Pet

In other news, insider John Edward Hanson sold 5,321 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $37.19, for a total value of $197,887.99. Following the completion of the sale, the insider now directly owns 35,460 shares of the company’s stock, valued at $1,318,757.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Central Garden & Pet news, insider John Edward Hanson sold 5,321 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $37.19, for a total value of $197,887.99. Following the transaction, the insider now directly owns 35,460 shares of the company’s stock, valued at approximately $1,318,757.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Ranelli sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total transaction of $92,016.00. Following the sale, the director now owns 41 shares of the company’s stock, valued at $1,571.94. The disclosure for this sale can be found here. Insiders have sold 25,822 shares of company stock worth $965,026 in the last ninety days. Insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds have recently modified their holdings of CENTA. PNC Financial Services Group Inc. raised its holdings in shares of Central Garden & Pet by 3.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,693 shares of the company’s stock valued at $427,000 after purchasing an additional 341 shares during the period. GAMMA Investing LLC raised its stake in shares of Central Garden & Pet by 61.3% during the first quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock worth $50,000 after acquiring an additional 519 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Central Garden & Pet by 0.6% in the third quarter. New York State Teachers Retirement System now owns 91,749 shares of the company’s stock worth $3,678,000 after buying an additional 550 shares during the period. GHP Investment Advisors Inc. boosted its holdings in Central Garden & Pet by 1.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 70,265 shares of the company’s stock valued at $3,094,000 after acquiring an additional 678 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Central Garden & Pet by 6.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 14,199 shares of the company’s stock worth $569,000 after acquiring an additional 862 shares during the period. 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.