Oppenheimer Research Analysts Raise Earnings Estimates for Central Garden & Pet Co (CENT)

Central Garden & Pet Co (NASDAQ:CENT) – Equities researchers at Oppenheimer boosted their Q2 2018 earnings estimates for Central Garden & Pet in a research report issued to clients and investors on Thursday. Oppenheimer analyst B. Nagel now forecasts that the company will post earnings of $0.83 per share for the quarter, up from their previous estimate of $0.73. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Central Garden & Pet’s Q3 2018 earnings at $0.75 EPS and FY2018 earnings at $1.88 EPS.

A number of other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Central Garden & Pet from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. CL King started coverage on shares of Central Garden & Pet in a research note on Thursday, December 7th. They issued a “buy” rating and a $47.00 price target for the company. KeyCorp restated a “hold” rating on shares of Central Garden & Pet in a research note on Monday, October 16th. BidaskClub lowered shares of Central Garden & Pet from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Sidoti lowered shares of Central Garden & Pet from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.00.

Shares of Central Garden & Pet (NASDAQ CENT) opened at $37.88 on Friday. The stock has a market cap of $2,046.40, a P/E ratio of 25.30, a PEG ratio of 2.09 and a beta of 0.06. Central Garden & Pet has a 12 month low of $29.08 and a 12 month high of $42.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 4.42.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $442.01 million for the quarter, compared to analyst estimates of $435.19 million. Central Garden & Pet had a net margin of 4.69% and a return on equity of 12.86%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share.

In other Central Garden & Pet news, Director Brooks Pennington III sold 10,000 shares of Central Garden & Pet stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $35.47, for a total value of $354,700.00. Following the completion of the transaction, the director now owns 35,928 shares of the company’s stock, valued at $1,274,366.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Nicholas Lahanas sold 7,119 shares of Central Garden & Pet stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $38.78, for a total transaction of $276,074.82. Following the completion of the transaction, the chief financial officer now directly owns 27,959 shares of the company’s stock, valued at approximately $1,084,250.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,299 shares of company stock valued at $3,028,258. Insiders own 11.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CENT. Suntrust Banks Inc. boosted its holdings in shares of Central Garden & Pet by 1.3% during the second quarter. Suntrust Banks Inc. now owns 10,721 shares of the company’s stock valued at $339,000 after acquiring an additional 137 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Central Garden & Pet by 3.4% during the second quarter. Goldman Sachs Group Inc. now owns 19,939 shares of the company’s stock valued at $634,000 after acquiring an additional 650 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Central Garden & Pet by 21.7% during the second quarter. Alliancebernstein L.P. now owns 7,300 shares of the company’s stock valued at $232,000 after acquiring an additional 1,300 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Central Garden & Pet by 58.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,830 shares of the company’s stock valued at $149,000 after acquiring an additional 1,420 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Central Garden & Pet by 104.6% during the third quarter. Envestnet Asset Management Inc. now owns 4,273 shares of the company’s stock valued at $166,000 after acquiring an additional 2,185 shares during the period. 19.96% 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.

Earnings History and Estimates for Central Garden & Pet (NASDAQ:CENT)

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