Central Garden & Pet (NASDAQ:CENT) Receives $46.75 Consensus Target Price from Analysts

Central Garden & Pet (NASDAQ:CENT - Get Free Report) has earned an average rating of "Buy" from the five brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $46.75.

A number of analysts have recently weighed in on CENT shares. Canaccord Genuity Group cut their price objective on Central Garden & Pet from $48.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Truist Financial reduced their price target on Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Finally, Argus lowered shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently made changes to their positions in CENT. Empowered Funds LLC acquired a new position in Central Garden & Pet in the third quarter valued at approximately $1,681,000. Quest Partners LLC acquired a new position in shares of Central Garden & Pet in the 3rd quarter valued at $797,000. American Century Companies Inc. grew its position in shares of Central Garden & Pet by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company's stock valued at $6,262,000 after buying an additional 32,009 shares during the last quarter. Marshall Wace LLP raised its stake in Central Garden & Pet by 748.5% during the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock worth $3,234,000 after acquiring an additional 74,100 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Central Garden & Pet by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company's stock valued at $3,345,000 after acquiring an additional 1,873 shares during the last quarter. Institutional investors and hedge funds own 16.13% of the company's stock.

Central Garden & Pet Trading Up 0.7 %

CENT traded up $0.24 during mid-day trading on Wednesday, hitting $36.04. 99,857 shares of the stock were exchanged, compared to its average volume of 105,171. The firm's fifty day moving average is $38.66 and its two-hundred day moving average is $37.94. Central Garden & Pet has a 1-year low of $32.17 and a 1-year high of $47.48. The company has a market cap of $2.36 billion, a PE ratio of 22.27 and a beta of 0.79. The company has a current ratio of 3.66, a quick ratio of 2.19 and a debt-to-equity ratio of 0.76.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its quarterly earnings results on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The business had revenue of $669.49 million for the quarter, compared to analysts' expectations of $707.83 million. The company's quarterly revenue was down 10.8% compared to the same quarter last year. Equities analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current fiscal 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.