Central Garden & Pet (NASDAQ:CENTA) Rating Raised to Buy at StockNews.com

Central Garden & Pet (NASDAQ:CENTA – Get a Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other analysts have recently issued reports on the company. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. JPMorgan Chase & Co. decreased their price target on shares of Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $42.00, according to MarketBeat.

Check out our latest research report on Central Garden & Pet

Central garden and pet stock down 0.5%

Shares of NASDAQ CENTA opened at $28.54 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 3.66, and a debt-to-equity ratio of 0.75. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 12.80 and a beta of 0.72. Central Garden & Pet has a 12-month low of $27.70 and a 12-month high of $41.03. The company’s 50-day simple moving average is $32.66, and its 200-day simple moving average is $34.43.

Central Garden & Pet (NASDAQ:CENTA – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $996.35 million for the quarter, compared to the consensus estimate of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. In the same quarter last year, the business earned $1.40 EPS. On average, research analysts expect that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

Insider trading at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the completion of the sale, the director now owns 822 shares of the company’s stock, valued at approximately $28,178.16. This represents a 0.00 % decrease in ownership of the shares. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, Director John Ranelli sold 2,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.28, for a total transaction of $85,700.00. Following the sale, the director now owns 822 shares of the company’s stock, valued at $28,178.16. This trade represents a decrease of 0.00 % in the stock holding. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the transaction, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. This represents a 0.00 % decrease in ownership of the shares. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,986 shares of company stock worth $2,146,841. 20.28% of shares are currently owned by company insiders.

Institutional investors are investing in Central Garden & Pet

Institutional investors have recently added to or reduced their holdings in the stock. Vanguard Group Inc. boosted its position in Central Garden & Pet by 30.2% in the first quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock worth $208,093,000 after purchasing an additional 1,306,309 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Central Garden & Pet by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock worth $120,682,000 after buying an additional 29,780 shares in the last quarter. Champlain Investment Partners LLC raised its position in Central Garden & Pet by 24.8% in the first quarter. Champlain Investment Partners LLC now owns 2,303,369 shares of the company’s stock valued at $85,040,000 after buying an additional 457,699 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Central Garden & Pet by 29.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,087,178 shares of the company’s stock valued at $77,059,000 after buying an additional 480,805 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in Central Garden & Pet by 7.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,112,400 shares of the company’s stock worth $41,070,000 after buying an additional 74,256 shares during the last quarter. 50.82% of shares are owned by institutional investors.

About Central Garden & Pet

(Get a free report)

Central Garden & Pet Company manufactures 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 offers supplies for dogs and cats, such as dog food and chews, toys, pet beds and restraints, grooming products, waste management and training pads; supplies for aquatic animals, small animals, reptiles and pet birds, including toys, cages and habitats, bedding and food and supplements; equine and animal products; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioning and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals as well as outdoor cushions.

Further reading

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