Central Garden & Pet (NASDAQ:CENTA) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. JPMorgan Chase & Co. dropped their price target on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $41.33.

Central Garden & Pet Trading Up 2.7 %

Shares of NASDAQ CENTA opened at $30.75 on Wednesday. Central Garden & Pet has a 1 year low of $27.70 and a 1 year high of $41.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The firm has a 50-day moving average of $32.32 and a 200 day moving average of $34.19. The stock has a market cap of $2.07 billion, a P/E ratio of 13.79 and a beta of 0.72.

Central Garden & Pet (NASDAQ:CENTA) last released its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm had revenue of $996.35 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $1.40 earnings per share. As a group, sell-side analysts expect that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In related news, 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 completion of the sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Brooks Pennington III sold 1,486 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the transaction, the director now owns 40,743 shares in the company, valued at $1,336,370.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,986 shares of company stock worth $2,146,841. Insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

Large investors have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Central Garden & Pet by 72.6% in the third quarter. CWM LLC now owns 1,957 shares of the company’s stock worth $61,000 after buying an additional 823 shares during the last quarter. SG Americas Securities LLC bought a new position in Central Garden & Pet in the third quarter worth approximately $594,000. Point72 DIFC Ltd bought a new position in Central Garden & Pet in the second quarter worth approximately $154,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Central Garden & Pet during the 2nd quarter worth $61,000. Finally, Quarry LP grew its position in shares of Central Garden & Pet by 503.2% during the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after acquiring an additional 629 shares during the period. Institutional investors own 50.82% of the company’s stock.

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.