Central Garden & Pet (CENT) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Central Garden & Pet (NASDAQ:CENT) from a sell rating to a hold rating in a research note published on Thursday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Central Garden & Pet from a hold rating to a buy rating and set a $41.00 target price on the stock in a research report on Friday, February 9th. Oppenheimer restated a hold rating on shares of Central Garden & Pet in a research report on Wednesday, November 29th. CL King assumed coverage on Central Garden & Pet in a research report on Thursday, December 7th. They issued a buy rating and a $47.00 target price on the stock. Finally, KeyCorp upgraded Central Garden & Pet from a sector weight rating to an overweight rating and set a $44.00 target price on the stock in a research report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $44.00.

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Central Garden & Pet stock opened at $41.61 on Thursday. The firm has a market capitalization of $2,158.81, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.11. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.46 and a current ratio of 4.42. Central Garden & Pet has a 12 month low of $29.08 and a 12 month high of $42.74.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, February 7th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. Central Garden & Pet had a return on equity of 12.86% and a net margin of 4.69%. The company had revenue of $442.01 million for the quarter, compared to the consensus estimate of $435.19 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. equities analysts forecast that Central Garden & Pet will post 1.89 EPS for the current fiscal year.

In related news, insider Howard Machek sold 6,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $38.01, for a total value of $228,060.00. Following the sale, the insider now owns 14,598 shares in the company, valued at approximately $554,869.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Ranelli sold 11,563 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $36.97, for a total value of $427,484.11. Following the completion of the sale, the director now owns 542 shares in the company, valued at approximately $20,037.74. The disclosure for this sale can be found here. Insiders sold 52,589 shares of company stock worth $1,943,016 in the last 90 days. Company insiders own 11.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan raised its holdings in shares of Central Garden & Pet by 58.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,830 shares of the company’s stock valued at $149,000 after buying an additional 1,420 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Central Garden & Pet by 200.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,968 shares of the company’s stock valued at $154,000 after buying an additional 2,647 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Central Garden & Pet by 104.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,273 shares of the company’s stock valued at $166,000 after buying an additional 2,185 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of Central Garden & Pet in the 4th quarter valued at $173,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Central Garden & Pet by 70.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the company’s stock valued at $207,000 after buying an additional 2,204 shares during the period. Hedge funds and other institutional investors own 19.65% of the company’s stock.

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Central Garden & Pet Company Profile

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

Analyst Recommendations for Central Garden & Pet (NASDAQ:CENT)

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