Central Garden & Pet (NASDAQ:CENTA) Upgraded to “Buy” at StockNews.com

Central Garden & Pet (NASDAQ:CENTA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other research firms also recently weighed in on CENTA. JPMorgan Chase & Co. boosted their price target on Central Garden & Pet from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Truist Financial boosted their price target on Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

Central Garden & Pet Stock Up 1.9 %

CENTA stock traded up $0.64 on Friday, hitting $34.52. 176,432 shares of the company’s stock were exchanged, compared to its average volume of 254,037. Central Garden & Pet has a 12-month low of $27.02 and a 12-month high of $39.55. The firm has a 50 day moving average price of $36.20 and a two-hundred day moving average price of $30.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 3.47. The stock has a market cap of $2.32 billion, a P/E ratio of 17.09 and a beta of 0.69.

Central Garden & Pet (NASDAQ:CENTA) last announced its earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.15. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The firm had revenue of $634.53 million for the quarter, compared to the consensus estimate of $620.11 million. As a group, equities research analysts expect that Central Garden & Pet will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John Ranelli sold 2,400 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $38.34, for a total value of $92,016.00. Following the completion of the transaction, the director now owns 41 shares of the company’s stock, valued at approximately $1,571.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Central Garden & Pet news, insider John Edward Hanson sold 5,321 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $37.19, for a total transaction of $197,887.99. Following the completion of the transaction, the insider now owns 35,460 shares of the company’s stock, valued at $1,318,757.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Ranelli sold 2,400 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $38.34, for a total value of $92,016.00. Following the transaction, the director now directly owns 41 shares of the company’s stock, valued at approximately $1,571.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,822 shares of company stock valued at $965,026. 20.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP grew its position in shares of Central Garden & Pet by 2.4% in the fourth quarter. Susquehanna International Group LLP now owns 12,275 shares of the company’s stock valued at $439,000 after purchasing an additional 289 shares in the last quarter. Pathstone Family Office LLC grew its position in shares of Central Garden & Pet by 3.2% in the fourth quarter. Pathstone Family Office LLC now owns 10,830 shares of the company’s stock valued at $388,000 after purchasing an additional 331 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Central Garden & Pet by 3.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,693 shares of the company’s stock valued at $427,000 after purchasing an additional 341 shares in the last quarter. Legal & General Group Plc grew its position in shares of Central Garden & Pet by 0.3% in the second quarter. Legal & General Group Plc now owns 119,814 shares of the company’s stock valued at $4,794,000 after purchasing an additional 363 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of Central Garden & Pet by 6.8% in the fourth quarter. Stifel Financial Corp now owns 5,757 shares of the company’s stock valued at $254,000 after purchasing an additional 365 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Company Profile

Central Garden & Pet Company produces and distributes various 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 provides dog and cat supplies, such as dog treats and chews, toys, pet beds and containment, grooming products, waste management, and training pads; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.