Central Garden & Pet (NASDAQ:CENT) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Central Garden & Pet (NASDAQ:CENT) to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

CENT has been the topic of several other reports. Zacks Research lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings cut shares of Central Garden & Pet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Central Garden & Pet Price Performance

Shares of NASDAQ:CENT opened at $42.04 on Friday. The company has a current ratio of 3.79, a quick ratio of 2.67 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $41.60 and its 200-day moving average is $40.92. Central Garden & Pet has a 1-year low of $29.52 and a 1-year high of $46.97. The firm has a market capitalization of $2.63 billion, a PE ratio of 15.69 and a beta of 0.67.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, August 5th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.01. The business had revenue of $883.72 million for the quarter, compared to analyst estimates of $882.96 million. Central Garden & Pet had a net margin of 5.39% and a return on equity of 11.13%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. Central Garden & Pet has set its FY 2026 guidance at 2.850- EPS. Sell-side analysts predict that Central Garden & Pet will post 2.98 earnings per share for the current year.

Insider Buying and Selling at Central Garden & Pet

In other news, insider John Walker, III sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $38.50, for a total transaction of $192,500.00. Following the completion of the transaction, the insider owned 64,679 shares of the company’s stock, valued at approximately $2,490,141.50. This trade represents a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently made changes to their positions in CENT. Renaissance Technologies LLC increased its position in Central Garden & Pet by 59.5% in the first quarter. Renaissance Technologies LLC now owns 181,787 shares of the company’s stock worth $6,684,000 after buying an additional 67,800 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Central Garden & Pet by 15.0% in the first quarter. Empowered Funds LLC now owns 77,792 shares of the company’s stock worth $2,860,000 after purchasing an additional 10,132 shares during the period. Sei Investments Co. raised its holdings in shares of Central Garden & Pet by 17.1% in the 1st quarter. Sei Investments Co. now owns 51,188 shares of the company’s stock valued at $1,882,000 after acquiring an additional 7,462 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Central Garden & Pet in the 2nd quarter worth $2,156,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Central Garden & Pet during the second quarter worth about $1,613,000. 16.13% of the stock is owned by institutional investors.

About Central Garden & Pet

Central Garden & Pet Company (NASDAQ: CENT) is a marketer and manufacturer of products for the pet and garden markets. The company sells its products through retailers, distributors, e-commerce channels and other outlets, serving consumers primarily in the United States.

Its Pet segment offers products for dogs, cats, birds, fish, reptiles and small animals. Product categories include treats, toys, bedding, habitats, aquatics supplies, animal health products and training or waste-management products.