Canaccord Genuity Group Lowers Central Garden & Pet (NASDAQ:CENT) Price Target to $45.00

Central Garden & Pet (NASDAQ:CENT - Get Free Report) had its price objective lowered by analysts at Canaccord Genuity Group from $48.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 12.98% from the stock's current price.

Separately, Truist Financial decreased their target price on Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $46.75.

Central Garden & Pet Price Performance

Shares of CENT traded up $1.02 during midday trading on Tuesday, hitting $39.83. 312,044 shares of the company traded hands, compared to its average volume of 115,512. Central Garden & Pet has a one year low of $31.31 and a one year high of $47.48. The firm has a market cap of $2.69 billion, a P/E ratio of 18.37 and a beta of 0.75. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The stock has a 50-day moving average of $35.79 and a 200-day moving average of $38.64.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares in the company, valued at $37,758,426.42. This represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in Central Garden & Pet during the 2nd quarter valued at $51,000. Glenmede Trust Co. NA grew its stake in shares of Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company's stock worth $77,000 after purchasing an additional 395 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Central Garden & Pet during the 2nd quarter valued at about $113,000. SG Americas Securities LLC bought a new position in Central Garden & Pet during the 3rd quarter valued at approximately $111,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Central Garden & Pet in the 2nd quarter worth approximately $187,000. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

About Central Garden & Pet

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.