Central Garden & Pet (NASDAQ:CENTA) Sets New 1-Year High - Time to Buy?

Key Points

• Central Garden & Pet reached a new 52-week high, trading as high as $41.57, up from its prior close of $40.43.
• Analysts’ consensus rating is “Moderate Buy”, with a $46.67 average price target; recent rating changes were mixed, including downgrades to Hold and an upgrade to Buy.
• In its latest reported quarter, the company earned $1.54 per share, slightly beating the $1.51 estimate, while revenue of $882.36 million came in just below expectations.

Central Garden & Pet Company (NASDAQ:CENTA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $41.57 and last traded at $41.0860, with a volume of 11,704 shares traded. The stock had previously closed at $40.43.

Analyst Upgrades and Downgrades

CENTA has been the topic of several recent research reports. Wall Street Zen cut shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research cut Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. boosted their price target on Central Garden & Pet from $32.00 to $37.00 and gave the company an "underweight" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings raised Central Garden & Pet from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet has an average rating of "Moderate Buy" and a consensus price target of $46.67.

Central Garden & Pet Stock Performance

The stock has a market cap of $2.60 billion, a P/E ratio of 15.50 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. The stock has a 50-day simple moving average of $36.05 and a 200-day simple moving average of $35.17.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.51 by $0.03. The business had revenue of $882.36 million during the quarter, compared to the consensus estimate of $882.96 million. Central Garden & Pet had a net margin of 5.39% and a return on equity of 11.13%. Research analysts forecast that Central Garden & Pet Company will post 2.98 earnings per share for the current year.

Insider Activity

In related news, insider John Walker, III sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $38.50, for a total value of $192,500.00. Following the completion of the transaction, the insider owned 64,679 shares in the company, valued at $2,490,141.50. This trade represents a 7.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.28% of the stock is owned by corporate insiders.

Institutional Trading of Central Garden & Pet

A number of institutional investors and hedge funds have recently bought and sold shares of CENTA. Parallel Advisors LLC lifted its holdings in Central Garden & Pet by 123.8% during the 3rd quarter. Parallel Advisors LLC now owns 743 shares of the company's stock worth $25,000 after buying an additional 411 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Central Garden & Pet in the 2nd quarter valued at about $44,000. Rockefeller Capital Management L.P. increased its stake in shares of Central Garden & Pet by 577.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,654 shares of the company's stock valued at $48,000 after buying an additional 1,410 shares during the period. Fortitude Family Office LLC increased its stake in shares of Central Garden & Pet by 2,301.5% in the third quarter. Fortitude Family Office LLC now owns 1,609 shares of the company's stock valued at $54,000 after buying an additional 1,542 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Central Garden & Pet by 96.3% in the second quarter. Versant Capital Management Inc now owns 1,855 shares of the company's stock valued at $72,000 after buying an additional 910 shares during the period. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Company Profile

Central Garden & Pet Company is a manufacturer and distributor of products for the pet and garden markets. The company offers supplies for dogs, cats, birds, fish, reptiles and other companion animals, as well as products for lawn and garden care, pest control, wild bird feeding and outdoor living.

Its portfolio includes well-known brands such as Nylabone, Kaytee, Aqueon, Zilla, Four Paws, K&H Pet Products, Pennington, Amdro, Sevin, Lilly Miller, Ironite and Ferry-Morse. Products are sold through mass merchants, warehouse clubs, home improvement stores, specialty retailers, independent retailers and e-commerce channels.

Central Garden & Pet serves customers primarily in the United States and also has operations and sales activities in Canada.

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