Central Garden & Pet (NASDAQ:CENTA) Sets New 12-Month High Following Analyst Upgrade

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) shares hit a new 52-week high on Thursday after Monness Crespi & Hardt raised their price target on the stock from $39.00 to $42.00. Monness Crespi & Hardt currently has a buy rating on the stock. Central Garden & Pet traded as high as $40.18 and last traded at $39.99, with a volume of 355319 shares. The stock had previously closed at $35.94.

A number of other equities research analysts have also weighed in on CENTA. StockNews.com raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Thursday, May 2nd. Truist Financial increased their target price on shares of Central Garden & Pet from $50.00 to $60.00 and gave the company a "buy" rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Central Garden & Pet from $40.00 to $43.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $44.25.

Insiders Place Their Bets

In other news, Director John Ranelli sold 2,400 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total transaction of $92,016.00. Following the sale, the director now directly owns 41 shares of the company's stock, valued at approximately $1,571.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total value of $92,016.00. Following the sale, the director now owns 41 shares in the company, valued at $1,571.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Howard Machek sold 5,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the transaction, the chief accounting officer now directly owns 59,406 shares in the company, valued at approximately $2,162,378.40. The disclosure for this sale can be found here. Insiders sold 25,822 shares of company stock worth $965,026 in the last three months. 20.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its holdings in Central Garden & Pet by 53.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,032 shares of the company's stock worth $939,000 after acquiring an additional 8,338 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Central Garden & Pet by 24.9% in the first quarter. William Blair Investment Management LLC now owns 1,090,060 shares of the company's stock worth $40,245,000 after acquiring an additional 217,006 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Central Garden & Pet by 40.8% in the first quarter. ProShare Advisors LLC now owns 10,462 shares of the company's stock worth $386,000 after acquiring an additional 3,032 shares in the last quarter. Sei Investments Co. boosted its holdings in Central Garden & Pet by 53.2% in the first quarter. Sei Investments Co. now owns 34,773 shares of the company's stock worth $1,284,000 after acquiring an additional 12,068 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Central Garden & Pet by 32.3% in the first quarter. Swiss National Bank now owns 106,937 shares of the company's stock worth $3,948,000 after acquiring an additional 26,137 shares in the last quarter. Institutional investors own 50.82% of the company's stock.

Central Garden & Pet Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 1.55. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 19.80 and a beta of 0.70. The firm has a fifty day simple moving average of $35.89 and a two-hundred day simple moving average of $31.86.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.15. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The firm had revenue of $634.53 million during the quarter, compared to analysts' expectations of $620.11 million. On average, analysts expect that Central Garden & Pet will post 2.37 EPS for the current year.

Central Garden & Pet Company Profile

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments: Pet and Garden. The Pet segment provides 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, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.