Brokerages Set Central Garden & Pet (NASDAQ:CENT) Price Target at $52.75

Shares of Central Garden & Pet (NASDAQ:CENT) have received an average rating of “Buy” from the five brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $52.50.

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 target price on shares of Central Garden & Pet in a research note on Monday, September 30th. Canaccord Genuity Group upgraded Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st.

Insider Activity

In other news, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now owns 40,743 shares in the company, valued at approximately $1,336,370.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of Central Garden & Pet stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at approximately $28,178.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now directly owns 40,743 shares in the company, valued at $1,336,370.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,986 shares of company stock worth $2,146,841. Insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Central Garden & Pet by 6.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock worth $34,085,000 after acquiring an additional 51,454 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Central Garden & Pet by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock worth $29,926,000 after acquiring an additional 5,571 shares in the last quarter. Orchard Capital Management LLC raised its position in shares of Central Garden & Pet by 5.6% in the 4th quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock worth $8,474,000 after acquiring an additional 8,914 shares in the last quarter. American Century Companies Inc. raised its position in shares of Central Garden & Pet by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after acquiring an additional 32,009 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Central Garden & Pet by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after acquiring an additional 1,873 shares in the last quarter. 16.13% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Stock Performance

CENT opened at $33.69 on Monday. Central Garden & Pet has a 12-month low of $30.75 and a 12-month high of $47.48. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 15.11 and a beta of 0.75. The business has a 50 day moving average of $38.24 and a 200-day moving average of $40.15. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio 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 for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. The company had revenue of $996.35 million for the quarter, compared to analyst estimates of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. On average, equities research analysts expect that Central Garden & Pet will post 2.11 earnings per share 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.