Central Garden & Pet (NASDAQ:CENTA) Hits New 1-Year High After Analyst Upgrade

Central Garden & Pet (NASDAQ:CENTA)’s stock price reached a new 52-week high 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 changing hands. The stock had previously closed at $35.94.

Several other brokerages have also recently issued reports on CENTA. StockNews.com upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of Central Garden & Pet from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Truist Financial lifted their price target 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Central Garden & Pet presently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, CAO Howard Machek sold 5,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 59,406 shares of the company’s stock, valued at $2,162,378.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Central Garden & Pet news, CAO Howard Machek sold 5,000 shares of the 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 sale, the chief accounting officer now directly owns 59,406 shares in the company, valued at $2,162,378.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Nicholas Lahanas sold 13,101 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $37.64, for a total transaction of $493,121.64. Following the completion of the transaction, the chief financial officer now directly owns 115,796 shares of the company’s stock, valued at approximately $4,358,561.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,822 shares of company stock worth $965,026. Corporate insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CENTA. GAMMA Investing LLC acquired a new position in Central Garden & Pet during the fourth quarter valued at approximately $35,000. SG Americas Securities LLC acquired a new position in Central Garden & Pet in the 1st quarter valued at $174,000. North Star Investment Management Corp. bought a new position in Central Garden & Pet during the 1st quarter worth $194,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Central Garden & Pet in the first quarter valued at about $208,000. Finally, Brighton Jones LLC acquired a new position in shares of Central Garden & Pet in the fourth quarter valued at about $215,000. 50.82% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Stock Up 11.3 %

The firm’s 50 day simple moving average is $35.85 and its two-hundred day simple moving average is $31.80. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 18.84 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 issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.15. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The company had revenue of $634.53 million for the quarter, compared to analysts’ expectations of $620.11 million. On average, equities analysts forecast that Central Garden & Pet will post 2.37 EPS for the current year.

About Central Garden & Pet

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.