Central Garden & Pet (NASDAQ:CENTA) Sets New 52-Week High After Analyst Upgrade

Central Garden & Pet (NASDAQ:CENTA) hit a new 52-week high during mid-day trading on Thursday after Monness Crespi & Hardt raised their price target on the stock from $39.00 to $42.00. Monness Crespi & Hardt currently has a buy rating on the stock. Central Garden & Pet traded as high as $40.18 and last traded at $39.99, with a volume of 355319 shares trading hands. The stock had previously closed at $35.94.

CENTA has been the subject of a number of other research reports. StockNews.com upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on Central Garden & Pet from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Truist Financial increased their price objective on Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, February 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Central Garden & Pet presently has an average rating of “Moderate Buy” and an average price target of $44.25.

Insider Buying and Selling

In other Central Garden & Pet news, CAO Howard Machek sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $36.40, for a total value of $182,000.00. Following the transaction, the chief accounting officer now owns 59,406 shares in the company, valued at approximately $2,162,378.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Central Garden & Pet news, CFO Nicholas Lahanas sold 13,101 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $37.64, for a total value of $493,121.64. Following the completion of the sale, the chief financial officer now owns 115,796 shares in the company, valued at approximately $4,358,561.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Howard Machek sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total transaction of $182,000.00. Following the completion of the sale, the chief accounting officer now directly owns 59,406 shares of the company’s stock, valued at $2,162,378.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,822 shares of company stock valued at $965,026. 20.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Central Garden & Pet

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in Central Garden & Pet by 29.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,087,178 shares of the company’s stock valued at $77,059,000 after purchasing an additional 480,805 shares during the last quarter. Norges Bank bought a new position in Central Garden & Pet in the fourth quarter valued at approximately $11,786,000. William Blair Investment Management LLC lifted its holdings in shares of Central Garden & Pet by 24.9% in the first quarter. William Blair Investment Management LLC now owns 1,090,060 shares of the company’s stock valued at $40,245,000 after purchasing an additional 217,006 shares in the last quarter. CQS US LLC boosted its position in Central Garden & Pet by 370.9% during the 3rd quarter. CQS US LLC now owns 163,546 shares of the company’s stock worth $6,557,000 after acquiring an additional 128,818 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in Central Garden & Pet in the 4th quarter valued at $5,409,000. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Stock Up 11.3 %

The company has a quick ratio of 1.55, a current ratio of 3.47 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average of $35.85 and a 200-day moving average of $31.80. The firm has a market cap of $2.69 billion, a P/E ratio of 18.84 and a beta of 0.70.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.15. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. The firm had revenue of $634.53 million during the quarter, compared to the consensus estimate of $620.11 million. On average, equities research analysts anticipate that Central Garden & Pet will post 2.37 earnings per share for the current year.

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.