Central Garden & Pet (NASDAQ:CENT) Issues FY24 Earnings Guidance

Central Garden & Pet (NASDAQ:CENT) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.00 for the period, compared to the consensus EPS estimate of $2.22.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Argus upgraded shares of Central Garden & Pet from a hold rating to a buy rating and set a $50.00 target price on the stock in a report on Tuesday, May 28th. Canaccord Genuity Group dropped their target price on shares of Central Garden & Pet from $52.00 to $49.00 and set a buy rating on the stock in a report on Monday, July 1st. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a strong-buy rating in a report on Monday, July 1st. Finally, Monness Crespi & Hardt upgraded shares of Central Garden & Pet to a strong-buy rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of Buy and an average price target of $52.75.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENT traded down $0.29 during mid-day trading on Wednesday, reaching $38.00. 79,822 shares of the company traded hands, compared to its average volume of 112,955. The company’s 50 day moving average price is $39.43 and its 200-day moving average price is $41.06. The firm has a market cap of $2.56 billion, a PE ratio of 17.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. Central Garden & Pet has a 52 week low of $30.75 and a 52 week high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. The company had revenue of $900.10 million during the quarter, compared to the consensus estimate of $888.74 million. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. On average, equities analysts expect that Central Garden & Pet will post 2.23 EPS for the current fiscal year.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total value of $400,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,474 shares in the company, valued at approximately $2,061,533.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Howard Machek sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total transaction of $400,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,474 shares in the company, valued at approximately $2,061,533.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William E. Brown sold 700,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $36.25, for a total value of $25,375,000.00. Following the sale, the chairman now owns 1,189,615 shares in the company, valued at approximately $43,123,543.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 744,218 shares of company stock worth $27,144,928. 9.53% of the stock is owned by company insiders.

About Central Garden & Pet

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.