Central Garden & Pet’s (CENT) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Central Garden & Pet (NASDAQ:CENT) in a research note issued to investors on Monday, Benzinga reports. They currently have a $48.00 price target on the stock.

Separately, Canaccord Genuity Group raised shares of Central Garden & Pet to a strong-buy rating in a research report on Monday, July 1st. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $52.50.

Central Garden & Pet Trading Down 2.6 %

Shares of CENT opened at $33.92 on Monday. Central Garden & Pet has a 52-week low of $30.75 and a 52-week high of $47.48. 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 firm’s fifty day moving average is $38.45 and its two-hundred day moving average is $40.27. The stock has a market cap of $2.29 billion, a PE ratio of 15.21 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.11. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The company had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Research analysts forecast that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the sale, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the sale, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Ranelli sold 2,500 shares of the business’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 completion of the sale, the director now owns 822 shares in the company, valued at $28,178.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,986 shares of company stock valued at $2,146,841. 9.53% of the stock is currently owned by insiders.

Institutional Trading of Central Garden & Pet

Institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in Central Garden & Pet during the second quarter worth about $51,000. Point72 Asset Management L.P. purchased a new stake in Central Garden & Pet during the second quarter worth about $113,000. SG Americas Securities LLC purchased a new stake in Central Garden & Pet during the third quarter worth about $111,000. EntryPoint Capital LLC increased its stake in Central Garden & Pet by 909.2% during the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after purchasing an additional 3,846 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Central Garden & Pet during the second quarter worth about $187,000. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

Central Garden & Pet Company Profile

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.