Central Garden & Pet (NASDAQ:CENTA) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Central Garden & Pet Company is a leading innovator, marketer and producer of quality branded products for the lawn & garden and pet supplies markets. Committed to new product innovation, their products are sold to specialty independent and mass retailers. Participating categories in Lawn & Garden include: Grass seed and the brands PENNINGTON, and THE REBELS; wild bird feed and the brand PENNINGTON; weed and insect control and the brands AMDRO, SEVIN, IRONITE and OVER-N-OUT; and decorative outdoor patio products under the PENNINGTON brand. Participating categories in Pet include: Animal health and the brands ADAMS and ZODIAC; aquatics and reptile and the brands AQUEON, CORALIFE, SEGREST and ZILLA; bird & small animal and the brands KAYTEE, Forti-Diet and CRITTER TRAIL; dog & cat and the brands TFH, NYLABONE, FOUR PAWS, IMS, CADET, DMC, K&H Pet Products, PINNACLE and AVODERM; and equine and the brands FARNAM, HORSE HEALTH and VITAFLEX. “

CENTA has been the subject of several other research reports. BidaskClub upgraded shares of Central Garden & Pet from a sell rating to a hold rating in a research report on Wednesday, July 24th. KeyCorp reduced their price objective on shares of Central Garden & Pet from $39.00 to $36.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Finally, Monness Crespi & Hardt reiterated a buy rating and issued a $36.00 price target (down previously from $44.00) on shares of Central Garden & Pet in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $39.60.

Shares of NASDAQ:CENTA opened at $23.25 on Tuesday. The company has a market capitalization of $1.30 billion, a PE ratio of 13.63, a P/E/G ratio of 2.32 and a beta of 0.04. The company has a current ratio of 4.84, a quick ratio of 3.17 and a debt-to-equity ratio of 0.67. Central Garden & Pet has a twelve month low of $20.50 and a twelve month high of $38.03. The firm has a 50 day simple moving average of $24.14 and a 200-day simple moving average of $25.51.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06). The company had revenue of $706.58 million for the quarter, compared to analysts’ expectations of $689.17 million. Central Garden & Pet had a return on equity of 9.66% and a net margin of 4.30%. As a group, equities research analysts predict that Central Garden & Pet will post 1.73 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. United Services Automobile Association boosted its position in shares of Central Garden & Pet by 2.4% in the 2nd quarter. United Services Automobile Association now owns 67,327 shares of the company’s stock worth $1,659,000 after buying an additional 1,578 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Central Garden & Pet in the 2nd quarter worth about $465,000. Nuveen Asset Management LLC purchased a new stake in shares of Central Garden & Pet in the 2nd quarter worth about $5,016,000. Citadel Advisors LLC boosted its position in shares of Central Garden & Pet by 20.8% in the 2nd quarter. Citadel Advisors LLC now owns 152,237 shares of the company’s stock worth $3,751,000 after buying an additional 26,200 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Central Garden & Pet by 36.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 478,010 shares of the company’s stock worth $11,779,000 after buying an additional 128,216 shares in the last quarter. Hedge funds and other institutional investors own 66.28% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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