Central Garden & Pet (NASDAQ:CENT) Rating Lowered to "Hold" at Argus

Central Garden & Pet (NASDAQ:CENT - Get Free Report) was downgraded by analysts at Argus from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on CENT. Canaccord Genuity Group lowered their price target on shares of Central Garden & Pet from $48.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Truist Financial lowered their target price on shares of 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. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Central Garden & Pet has a consensus rating of "Buy" and an average target price of $46.75.

Central Garden & Pet Stock Performance

Shares of CENT traded up $0.24 during trading hours on Tuesday, hitting $36.04. The company's stock had a trading volume of 99,857 shares, compared to its average volume of 105,171. The business has a 50 day simple moving average of $38.66 and a two-hundred day simple moving average of $37.94. Central Garden & Pet has a 52-week low of $32.17 and a 52-week high of $47.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 22.27 and a beta of 0.79.

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

Hedge Funds Weigh In On Central Garden & Pet

A number of large investors have recently modified their holdings of CENT. Versant Capital Management Inc lifted its stake in shares of Central Garden & Pet by 693.6% in the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company's stock valued at $48,000 after acquiring an additional 1,089 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Central Garden & Pet in the second quarter valued at approximately $51,000. Glenmede Trust Co. NA lifted its position in Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company's stock valued at $77,000 after purchasing an additional 395 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Central Garden & Pet during the third quarter valued at approximately $111,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Central Garden & Pet in the second quarter worth approximately $113,000. 16.13% of the stock is owned by hedge funds and other 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.