Central Garden & Pet Company (CENTA) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is moderately positive: Six firms give Central Garden & Pet an average “Moderate Buy” rating, with three buys, one strong buy, one hold and one sell. The average 12-month price target is $46.67.
• Recent rating changes were mixed: Weiss Ratings lowered its “buy” grade, while Wall Street Zen downgraded the shares from “buy” to “hold.”
• Institutional ownership stands at 50.82%, with several investors—including State Street and Lazard Asset Management—recently increasing their stakes. Shares were trading at $40.41, within a 12-month range of $27.41 to $42.44.

Central Garden & Pet Company (NASDAQ:CENTA - Get Free Report) has received an average recommendation of "Moderate Buy" from the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $46.67.

A number of equities analysts have weighed in on CENTA shares. Weiss Ratings downgraded Central Garden & Pet from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, November 4th. Wall Street Zen downgraded shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Saturday, August 8th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board acquired a new position in shares of Central Garden & Pet during the 3rd quarter worth about $8,157,000. State Street Corp raised its holdings in shares of Central Garden & Pet by 5.9% in the 2nd quarter. State Street Corp now owns 2,207,738 shares of the company's stock valued at $85,594,000 after purchasing an additional 122,327 shares during the period. Lazard Asset Management LLC lifted its stake in Central Garden & Pet by 67.9% in the 1st quarter. Lazard Asset Management LLC now owns 121,655 shares of the company's stock valued at $3,944,000 after purchasing an additional 49,201 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Central Garden & Pet by 5.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,012,360 shares of the company's stock valued at $32,821,000 after purchasing an additional 47,980 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Central Garden & Pet by 18.1% in the 3rd quarter. Empowered Funds LLC now owns 310,332 shares of the company's stock valued at $10,402,000 after purchasing an additional 47,653 shares during the last quarter. Institutional investors and hedge funds own 50.82% of the company's stock.

Central Garden & Pet Stock Up 0.1%

CENTA stock traded up $0.04 during trading hours on Friday, reaching $40.41. 239,732 shares of the stock were exchanged, compared to its average volume of 370,299. The firm's 50-day moving average is $36.64 and its 200-day moving average is $35.64. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 15.08 and a beta of 0.58. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.79 and a quick ratio of 2.67. Central Garden & Pet has a 12 month low of $27.41 and a 12 month high of $42.44.

Central Garden & Pet Company Profile

Central Garden & Pet is a consumer products company focused on the pet and lawn and garden markets. Founded in 1980 and headquartered in Walnut Creek, California, it supplies products to retailers, distributors and consumers, primarily in North America. Its Pet segment offers products for animals including dogs, cats, birds, fish, reptiles and small animals. Brands in its portfolio include Aqueon, Kaytee, Nylabone, Chuckit! and Zilla, with products ranging from pet food and treats to toys, habitats and health supplies.

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