Central Garden & Pet Co (CENTA) Expected to Post Quarterly Sales of $499.89 Million

Brokerages expect that Central Garden & Pet Co (NASDAQ:CENTA) will report sales of $499.89 million for the current quarter, according to Zacks. Two analysts have provided estimates for Central Garden & Pet’s earnings, with the lowest sales estimate coming in at $484.80 million and the highest estimate coming in at $514.98 million. Central Garden & Pet posted sales of $490.46 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The business is expected to report its next earnings report on Tuesday, November 27th.

According to Zacks, analysts expect that Central Garden & Pet will report full-year sales of $2.21 billion for the current year, with estimates ranging from $2.20 billion to $2.23 billion. For the next financial year, analysts forecast that the business will post sales of $2.35 billion, with estimates ranging from $2.32 billion to $2.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Central Garden & Pet.

CENTA has been the topic of several research reports. KeyCorp initiated coverage on Central Garden & Pet in a research report on Thursday, October 11th. They issued an “overweight” rating and a $39.00 target price on the stock. ValuEngine downgraded Central Garden & Pet from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Bank of America initiated coverage on Central Garden & Pet in a research report on Monday, September 10th. They issued a “buy” rating and a $44.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on Central Garden & Pet in a research report on Monday, August 13th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Central Garden & Pet currently has an average rating of “Buy” and a consensus price target of $43.33.

CENTA stock traded down $0.37 during mid-day trading on Wednesday, reaching $28.85. 147,494 shares of the company’s stock were exchanged, compared to its average volume of 195,453. The company has a market capitalization of $1.53 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.26 and a beta of 0.25. The company has a current ratio of 4.42, a quick ratio of 2.57 and a debt-to-equity ratio of 0.93. Central Garden & Pet has a 12-month low of $27.88 and a 12-month high of $41.97.

Several large investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Central Garden & Pet in the third quarter valued at approximately $1,988,000. Trexquant Investment LP acquired a new stake in shares of Central Garden & Pet in the third quarter valued at approximately $231,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Central Garden & Pet by 114.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,781 shares of the company’s stock valued at $125,000 after purchasing an additional 2,015 shares during the last quarter. FMR LLC increased its holdings in shares of Central Garden & Pet by 2.1% in the third quarter. FMR LLC now owns 814,357 shares of the company’s stock valued at $26,988,000 after purchasing an additional 17,091 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of Central Garden & Pet by 16.1% in the third quarter. American International Group Inc. now owns 31,842 shares of the company’s stock valued at $1,055,000 after purchasing an additional 4,407 shares during the last quarter. 63.75% of the stock is owned by hedge funds and other institutional investors.

About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats comprising edible bones, edible and non-edible chews, rawhide, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and food, cages and habitats, toys, chews, and related accessories for birds, small animals, and specialty pets.

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

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