Central Garden & Pet (CENTA) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Central Garden & Pet (NASDAQ:CENTA) from a hold rating to a sell rating in a research note released on Friday morning.

According to Zacks, “Central Garden & Pet Company is a leading innovator, marketer and producer of quality branded products for the lawn & garden and pet supplies markets. Committed to new product innovation, their products are sold to specialty independent and mass retailers. Participating categories in Lawn & Garden include: Grass seed and the brands PENNINGTON, and THE REBELS; wild bird feed and the brand PENNINGTON; weed and insect control and the brands AMDRO, SEVIN, IRONITE and OVER-N-OUT; and decorative outdoor patio products under the PENNINGTON brand. Participating categories in Pet include: Animal health and the brands ADAMS and ZODIAC; aquatics and reptile and the brands AQUEON, CORALIFE, SEGREST and ZILLA; bird & small animal and the brands KAYTEE, Forti-Diet and CRITTER TRAIL; dog & cat and the brands TFH, NYLABONE, FOUR PAWS, IMS, CADET, DMC, K&H Pet Products, PINNACLE and AVODERM; and equine and the brands FARNAM, HORSE HEALTH and VITAFLEX. “

Other equities research analysts have also issued reports about the stock. BMO Capital Markets reduced their target price on shares of Central Garden & Pet to $42.00 and set an outperform rating on the stock in a report on Wednesday. KeyCorp initiated coverage on shares of Central Garden & Pet in a report on Thursday, October 11th. They set an overweight rating and a $39.00 target price on the stock. ValuEngine lowered shares of Central Garden & Pet from a hold rating to a sell rating in a report on Thursday, September 27th. Finally, Bank of America initiated coverage on shares of Central Garden & Pet in a report on Monday, September 10th. They set a buy rating and a $44.00 target price on the stock. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Central Garden & Pet has a consensus rating of Hold and a consensus target price of $43.00.

Shares of Central Garden & Pet stock traded up $1.03 during mid-day trading on Friday, hitting $31.10. The stock had a trading volume of 520,235 shares, compared to its average volume of 209,978. Central Garden & Pet has a 12-month low of $27.14 and a 12-month high of $41.97. The company has a debt-to-equity ratio of 0.73, a current ratio of 5.72 and a quick ratio of 2.57. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.74 and a beta of 0.25.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings results on Tuesday, November 27th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Central Garden & Pet had a net margin of 5.58% and a return on equity of 13.33%. The business had revenue of $502.31 million during the quarter, compared to analysts’ expectations of $499.89 million. During the same quarter in the prior year, the company posted $0.08 EPS. Equities analysts expect that Central Garden & Pet will post 1.81 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Bank of Montreal Can purchased a new stake in shares of Central Garden & Pet in the second quarter valued at about $1,727,000. Amalgamated Bank acquired a new stake in shares of Central Garden & Pet in the second quarter valued at about $230,000. Alps Advisors Inc. acquired a new stake in shares of Central Garden & Pet in the second quarter valued at about $514,000. TD Asset Management Inc. acquired a new stake in shares of Central Garden & Pet in the second quarter valued at about $809,000. Finally, Comerica Bank lifted its stake in shares of Central Garden & Pet by 8.3% in the second quarter. Comerica Bank now owns 40,453 shares of the company’s stock valued at $1,639,000 after purchasing an additional 3,107 shares during the period. 65.97% of the stock is currently owned by institutional investors.

Central Garden & Pet Company Profile

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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