Central Garden & Pet's (CENT) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Central Garden & Pet has had its "Hold (C-)" rating reiterated by Weiss Ratings, while Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating.
• The company's stock recently traded down 1.6% to $30.44 and has an average price target of $40.00.
• Central Garden & Pet reported quarterly earnings of $1.56 EPS, exceeding estimates, but its revenue declined by 3.6% year-over-year, amounting to $960.91 million.

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

Separately, Zacks Research downgraded shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Central Garden & Pet has an average rating of "Hold" and an average price target of $40.00.

Central Garden & Pet Stock Down 1.6%

CENT traded down $0.49 during trading on Wednesday, hitting $30.44. 54,707 shares of the company's stock traded hands, compared to its average volume of 89,788. Central Garden & Pet has a 12-month low of $30.23 and a 12-month high of $43.88. The company's 50 day simple moving average is $35.44 and its two-hundred day simple moving average is $35.88. 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 market capitalization of $1.91 billion, a price-to-earnings ratio of 13.84 and a beta of 0.67.

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

Insider Buying and Selling

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of Central Garden & Pet stock in a transaction 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 completion of the transaction, the director directly owned 1,427 shares of the company's stock, valued at $46,491.66. This trade represents a 68.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the sale, the insider owned 67,328 shares in the company, valued at approximately $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors have recently modified their holdings of CENT. Banque Cantonale Vaudoise purchased a new stake in shares of Central Garden & Pet in the first quarter worth approximately $33,000. Stenger Family Office LLC bought a new stake in shares of Central Garden & Pet during the second quarter valued at approximately $48,000. CWM LLC grew its stake in Central Garden & Pet by 222.4% in the second quarter. CWM LLC now owns 1,412 shares of the company's stock worth $50,000 after purchasing an additional 974 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Central Garden & Pet by 152.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,920 shares of the company's stock worth $68,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Simplex Trading LLC grew its stake in Central Garden & Pet by 136.2% in the first quarter. Simplex Trading LLC now owns 2,048 shares of the company's stock worth $75,000 after purchasing an additional 1,181 shares in the last quarter. 16.13% of the stock is owned by institutional investors.

About Central Garden & Pet

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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