Central Garden & Pet (CENT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Central Garden & Pet (NASDAQ:CENT) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “Shares of Central Garden & Pet, which have outperformed the industry in the past six months, might take a U-turn in the near term owing to dismal third-quarter earnings. Analysts were disappointed with the company’s bottom-line performance, which not only missed the Zacks Consensus Estimate after beating the same in the trailing 12 quarters but also declined sharply year over year. Further, high debt and seasonality of business remains a major concern for investors. Nevertheless, organic growth, value accretive acquisitions and divestment of non-strategic assets bode well for the company. Moreover, management is revamping both Pet and Garden segments and intends to possess a balanced approach that encompasses improvement in revenues and profits through operational efficiency as well as cost reduction. In the fourth quarter of fiscal 2017, both Pet and Garden segments reported revenue growth of 22.1% and 12% year over year.”

CENT has been the subject of several other reports. KeyCorp reissued a hold rating on shares of Central Garden & Pet in a report on Wednesday, September 6th. BidaskClub raised Central Garden & Pet from a strong sell rating to a sell rating in a report on Friday, August 25th. Oppenheimer reissued a hold rating on shares of Central Garden & Pet in a report on Thursday, August 3rd. Finally, Sidoti lowered Central Garden & Pet from a buy rating to a neutral rating in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $39.00.

Central Garden & Pet (NASDAQ:CENT) opened at $39.61 on Wednesday. Central Garden & Pet has a twelve month low of $28.83 and a twelve month high of $40.48. The firm has a market capitalization of $2,050.77, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 2.39 and a beta of 0.03. The company has a current ratio of 3.10, a quick ratio of 1.63 and a debt-to-equity ratio of 0.62.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Tuesday, November 28th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Central Garden & Pet had a net margin of 3.84% and a return on equity of 12.81%. The firm had revenue of $490.46 million for the quarter, compared to the consensus estimate of $439.07 million. During the same period last year, the company posted $0.13 earnings per share. Central Garden & Pet’s revenue for the quarter was up 18.6% on a year-over-year basis. equities research analysts predict that Central Garden & Pet will post 1.66 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund boosted its holdings in shares of Central Garden & Pet by 1.5% in the second quarter. Texas Permanent School Fund now owns 7,458 shares of the company’s stock worth $237,000 after acquiring an additional 108 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of Central Garden & Pet by 1.3% in the second quarter. Suntrust Banks Inc. now owns 10,721 shares of the company’s stock worth $339,000 after acquiring an additional 137 shares during the period. Sei Investments Co. boosted its holdings in shares of Central Garden & Pet by 8.9% in the second quarter. Sei Investments Co. now owns 4,633 shares of the company’s stock worth $148,000 after acquiring an additional 380 shares during the period. ETRADE Capital Management LLC boosted its holdings in shares of Central Garden & Pet by 2.3% in the second quarter. ETRADE Capital Management LLC now owns 20,354 shares of the company’s stock worth $647,000 after acquiring an additional 466 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Central Garden & Pet by 20.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,136 shares of the company’s stock worth $100,000 after acquiring an additional 537 shares during the period. 20.07% of the stock is owned by hedge funds and other institutional investors.

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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.

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