Central Garden & Pet (NASDAQ:CENTA) Given Hold Rating at Truist Financial

Central Garden & Pet (NASDAQ:CENTA - Get Free Report)'s stock had its "hold" rating reiterated by stock analysts at Truist Financial in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $35.00 price target on the stock, down from their prior price target of $40.00. Truist Financial's target price suggests a potential upside of 14.27% from the company's current price.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. StockNews.com upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, Argus cut shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENTA traded up $0.36 during trading on Wednesday, reaching $30.63. 106,027 shares of the company's stock traded hands, compared to its average volume of 312,712. The stock has a market capitalization of $2.01 billion, a P/E ratio of 16.80 and a beta of 0.75. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03. The company has a 50 day moving average of $31.42 and a 200-day moving average of $31.91. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. On average, equities analysts expect that Central Garden & Pet will post 2.38 EPS for the current year.

Insider Activity at Central Garden & Pet

In other news, insider John D. Walker III sold 10,000 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the sale, the insider now owns 67,111 shares of the company's stock, valued at approximately $2,205,267.46. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CENTA. Barclays PLC boosted its position in shares of Central Garden & Pet by 161.7% during the 3rd quarter. Barclays PLC now owns 122,530 shares of the company's stock valued at $3,849,000 after purchasing an additional 75,718 shares in the last quarter. Denali Advisors LLC bought a new stake in Central Garden & Pet during the fourth quarter worth approximately $1,573,000. Principal Financial Group Inc. grew its position in Central Garden & Pet by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock worth $8,868,000 after buying an additional 8,889 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Central Garden & Pet in the fourth quarter valued at $473,000. Finally, Highbridge Capital Management LLC increased its holdings in shares of Central Garden & Pet by 89.8% in the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company's stock valued at $22,667,000 after buying an additional 324,493 shares in the last quarter. 50.82% of the stock is 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.