Central Garden & Pet (NASDAQ:CENT) Receives "Hold (C-)" Rating from Weiss Ratings

Key Points

• Central Garden & Pet's stock received a "Hold (C-)" rating from Weiss Ratings, while Zacks Research upgraded it to a "Strong Buy" rating.
• The company's stock is currently trading at $32.01, with an average target price of $40.00 and a market capitalization of $2.01 billion.
• In its latest quarterly earnings, Central Garden & Pet reported earnings per share of $1.56, exceeding estimates but showing a 3.6% drop in revenue compared to the previous year.

Central Garden & Pet (NASDAQ:CENT - Get Free Report)'s stock had its "hold (c-)" rating restated by analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Separately, Zacks Research raised Central Garden & Pet from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $40.00.

Central Garden & Pet Price Performance

NASDAQ CENT traded up $0.35 during trading on Friday, reaching $32.01. The company's stock had a trading volume of 65,637 shares, compared to its average volume of 67,287. The stock has a market capitalization of $2.01 billion, a PE ratio of 14.55 and a beta of 0.67. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.56 and a quick ratio of 2.28. The firm has a fifty day moving average of $33.86 and a 200 day moving average of $35.45. Central Garden & Pet has a one year low of $28.77 and a one year high of $43.88.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.22. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The company had revenue of $960.91 million for the quarter, compared to analysts' expectations of $993.66 million. During the same period in the prior year, the business earned $1.19 earnings per share. Central Garden & Pet's revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, insider John D. Walker III sold 3,500 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.59, for a total transaction of $114,065.00. Following the transaction, the insider owned 67,328 shares in the company, valued at $2,194,219.52. The trade was a 4.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Ranelli sold 3,076 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.58, for a total value of $100,216.08. Following the transaction, the director directly owned 1,427 shares of the company's stock, valued at $46,491.66. The trade was a 68.31% decrease in their position. The disclosure for this sale can be found here. 8.19% of the stock is owned by company insiders.

Institutional Trading of Central Garden & Pet

Several large investors have recently added to or reduced their stakes in CENT. Allspring Global Investments Holdings LLC raised its stake in Central Garden & Pet by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 817,499 shares of the company's stock worth $29,757,000 after buying an additional 6,307 shares in the last quarter. Millennium Management LLC raised its position in shares of Central Garden & Pet by 39.2% in the 1st quarter. Millennium Management LLC now owns 259,144 shares of the company's stock worth $9,500,000 after acquiring an additional 72,977 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Central Garden & Pet by 9.4% in the 2nd quarter. American Century Companies Inc. now owns 258,868 shares of the company's stock valued at $9,107,000 after purchasing an additional 22,187 shares during the period. Jane Street Group LLC purchased a new position in shares of Central Garden & Pet in the 1st quarter valued at approximately $7,347,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Central Garden & Pet by 2.6% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 194,590 shares of the company's stock valued at $7,134,000 after purchasing an additional 4,840 shares in the last quarter. Institutional investors own 16.13% of the company's stock.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.

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