Central Garden & Pet (NASDAQ:CENTA) Given "Hold (C+)" Rating at Weiss Ratings

Key Points

• Central Garden & Pet's stock received a "hold (C+)" rating from Weiss Ratings, while other analysts have mixed ratings, with one report increasing its price target from $45.00 to $50.00.
• The company reported earnings of $1.56 per share for the latest quarter, surpassing estimates, but its revenue fell short of expectations at $960.91 million.
• Insider transactions include sales by two insiders totaling over $214,000, reflecting a decrease in their ownership stakes in the company.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the company. Canaccord Genuity Group upped their price objective on Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Zacks Research downgraded shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Finally, Wall Street Zen upgraded shares of Central Garden & Pet from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 20th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $38.67.

Central Garden & Pet Stock Performance

NASDAQ:CENTA traded down $0.49 on Wednesday, hitting $27.55. The company's stock had a trading volume of 361,495 shares, compared to its average volume of 343,104. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75. The stock has a fifty day moving average of $32.07 and a two-hundred day moving average of $32.06. The firm has a market capitalization of $1.73 billion, a P/E ratio of 12.52 and a beta of 0.63. Central Garden & Pet has a one year low of $27.38 and a one year high of $37.35.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.22. The firm had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. Research analysts predict that Central Garden & Pet will post 2.38 earnings per share for the current year.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 3,500 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.59, for a total transaction of $114,065.00. Following the completion of the sale, the insider directly owned 67,328 shares in the company, valued at $2,194,219.52. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Ranelli sold 3,076 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.58, for a total value of $100,216.08. Following the sale, the director owned 1,427 shares of the company's stock, valued at $46,491.66. The trade was a 68.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently added to or reduced their stakes in CENTA. Wealth Enhancement Advisory Services LLC increased its position in Central Garden & Pet by 3.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company's stock valued at $431,000 after acquiring an additional 398 shares during the period. GAMMA Investing LLC increased its holdings in Central Garden & Pet by 3,083.5% in the first quarter. GAMMA Investing LLC now owns 32,599 shares of the company's stock valued at $996,000 after purchasing an additional 31,575 shares during the period. SG Americas Securities LLC increased its holdings in Central Garden & Pet by 32.0% in the first quarter. SG Americas Securities LLC now owns 16,458 shares of the company's stock valued at $539,000 after purchasing an additional 3,990 shares during the period. CWA Asset Management Group LLC acquired a new stake in Central Garden & Pet in the first quarter valued at $573,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Central Garden & Pet in the first quarter valued at $224,000. 50.82% of the stock is currently owned by institutional investors and hedge funds.

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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