Central Garden & Pet (NASDAQ:CENT) Receives $47.50 Consensus Price Target from Analysts

Central Garden & Pet (NASDAQ:CENT - Get Free Report) has earned a consensus rating of "Buy" from the five analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $47.50.

CENT has been the subject of a number of recent research reports. Truist Financial lowered their target price on Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Canaccord Genuity Group restated a "buy" rating and set a $48.00 price objective on shares of Central Garden & Pet in a research note on Monday, September 30th.

Insider Activity

In other news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The trade was a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.53% of the stock is currently owned by corporate insiders.

Institutional Trading of Central Garden & Pet

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP lifted its position in shares of 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 purchasing an additional 74,100 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Central Garden & Pet by 6.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company's stock valued at $34,085,000 after acquiring an additional 51,454 shares during the period. Empowered Funds LLC bought a new position in Central Garden & Pet during the third quarter valued at about $1,681,000. American Century Companies Inc. increased its stake in Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company's stock valued at $6,262,000 after acquiring an additional 32,009 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Central Garden & Pet in the 3rd quarter valued at approximately $797,000. Institutional investors and hedge funds own 16.13% of the company's stock.

Central Garden & Pet Stock Down 1.0 %

Shares of CENT stock traded down $0.36 during trading hours on Tuesday, reaching $36.66. The company had a trading volume of 122,764 shares, compared to its average volume of 114,349. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. Central Garden & Pet has a twelve month low of $30.75 and a twelve month high of $47.48. The company has a market capitalization of $2.47 billion, a P/E ratio of 16.82 and a beta of 0.75. The stock's fifty day simple moving average is $35.76 and its 200 day simple moving average is $38.81.

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.