Central Garden & Pet (CENT) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Central Garden & Pet (NASDAQ:CENT) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning.

Several other equities analysts have also recently commented on CENT. Zacks Investment Research upgraded Central Garden & Pet from a strong sell rating to a hold rating in a research note on Monday, October 22nd. BMO Capital Markets began coverage on Central Garden & Pet in a research note on Monday, August 13th. They set a buy rating and a $45.00 target price for the company. Bank of America began coverage on Central Garden & Pet in a research note on Monday, September 10th. They set a buy rating and a $44.00 target price for the company. JPMorgan Chase & Co. began coverage on Central Garden & Pet in a research note on Tuesday, September 25th. They set a neutral rating and a $37.00 target price for the company. Finally, ValuEngine cut Central Garden & Pet from a hold rating to a sell rating in a research note on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $44.57.

Central Garden & Pet stock opened at $33.16 on Friday. The company has a market cap of $1.77 billion, a PE ratio of 17.36 and a beta of 0.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 5.72 and a quick ratio of 3.71. Central Garden & Pet has a 52 week low of $29.81 and a 52 week high of $45.02.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Tuesday, November 27th. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $502.30 million during the quarter, compared to analysts’ expectations of $510.26 million. Central Garden & Pet had a return on equity of 13.33% and a net margin of 5.58%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. As a group, analysts forecast that Central Garden & Pet will post 1.85 earnings per share for the current year.

In related news, General Counsel George A. Yuhas sold 16,251 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $30.50, for a total transaction of $495,655.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brooks Pennington III sold 1,977 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $36.30, for a total value of $71,765.10. Following the transaction, the director now owns 40,851 shares in the company, valued at $1,482,891.30. The disclosure for this sale can be found here. Company insiders own 12.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in Central Garden & Pet by 8.0% during the third quarter. Legal & General Group Plc now owns 22,036 shares of the company’s stock worth $797,000 after purchasing an additional 1,639 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Central Garden & Pet by 2.2% during the first quarter. Principal Financial Group Inc. now owns 79,786 shares of the company’s stock worth $3,431,000 after purchasing an additional 1,709 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Central Garden & Pet by 27.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 9,128 shares of the company’s stock worth $329,000 after purchasing an additional 1,955 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Central Garden & Pet in the second quarter worth $105,000. Finally, Fifth Third Bancorp increased its position in Central Garden & Pet by 23.0% in the third quarter. Fifth Third Bancorp now owns 12,984 shares of the company’s stock worth $468,000 after buying an additional 2,429 shares during the period. Hedge funds and other institutional investors own 32.06% of the company’s stock.

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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Analyst Recommendations for Central Garden & Pet (NASDAQ:CENT)

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