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

StockNews.com upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a hold rating to a buy rating in a report released on Tuesday.

A number of other research firms have also commented on CENTA. Canaccord Genuity Group raised Central Garden & Pet to a strong-buy rating in a research note on Monday, July 1st. JPMorgan Chase & Co. decreased their price objective on Central Garden & Pet from $38.00 to $34.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Buy and an average price target of $41.33.

Central Garden & Pet Trading Up 3.0 %

NASDAQ:CENTA opened at $29.43 on Tuesday. The stock has a fifty day moving average price of $32.46 and a two-hundred day moving average price of $34.34. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 13.20 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. Central Garden & Pet has a 1 year low of $27.70 and a 1 year high of $41.03.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $996.35 million for the quarter, compared to analyst estimates of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. During the same quarter in the prior year, the company earned $1.40 earnings per share. As a group, sell-side analysts anticipate that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John Ranelli sold 2,500 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now directly owns 822 shares in the company, valued at approximately $28,178.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director John Ranelli sold 2,500 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now directly owns 822 shares in the company, valued at approximately $28,178.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the transaction, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,986 shares of company stock worth $2,146,841. 20.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Central Garden & Pet

Large investors have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of Central Garden & Pet by 33.1% in the 1st quarter. Nordea Investment Management AB now owns 181,017 shares of the company’s stock worth $6,739,000 after purchasing an additional 44,969 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Central Garden & Pet by 1,038.2% during the 1st quarter. Lazard Asset Management LLC now owns 129,744 shares of the company’s stock valued at $4,789,000 after buying an additional 118,345 shares during the period. Congress Asset Management Co. MA raised its holdings in shares of Central Garden & Pet by 22.7% during the 1st quarter. Congress Asset Management Co. MA now owns 183,737 shares of the company’s stock valued at $6,784,000 after buying an additional 33,983 shares during the period. Vanguard Group Inc. raised its holdings in shares of Central Garden & Pet by 30.2% during the 1st quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock valued at $208,093,000 after buying an additional 1,306,309 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Central Garden & Pet by 92.4% during the 1st quarter. LSV Asset Management now owns 236,305 shares of the company’s stock valued at $8,724,000 after buying an additional 113,495 shares during the period. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

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.