Central Garden & Pet (NASDAQ:CENT) Given Average Recommendation of "Buy" by Analysts

Shares of Central Garden & Pet (NASDAQ:CENT - Get Free Report) have been given a consensus recommendation of "Buy" by the five research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $46.75.

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

Central Garden & Pet Stock Performance

NASDAQ CENT traded up $0.72 during trading hours on Friday, hitting $40.72. The company had a trading volume of 164,346 shares, compared to its average volume of 115,297. Central Garden & Pet has a fifty-two week low of $32.17 and a fifty-two week high of $47.48. The firm has a market cap of $2.67 billion, a P/E ratio of 25.14 and a beta of 0.81. The company has a quick ratio of 2.19, a current ratio of 3.66 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $36.87 and a 200-day simple moving average of $38.14.

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

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC bought a new position in shares of Central Garden & Pet in the third quarter valued at $1,681,000. Quest Partners LLC acquired a new position in shares of Central Garden & Pet in the 3rd quarter worth $797,000. American Century Companies Inc. raised its position in shares of Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company's stock worth $6,262,000 after purchasing an additional 32,009 shares during the period. Marshall Wace LLP lifted its holdings in shares of Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock valued at $3,234,000 after purchasing an additional 74,100 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Central Garden & Pet by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company's stock valued at $3,345,000 after purchasing an additional 1,873 shares during the period. 16.13% of the stock is currently owned by institutional investors.

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.