Central Garden & Pet (NASDAQ:CENTA) Receives Consensus Rating of "Moderate Buy" from Brokerages

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) has received an average rating of "Moderate Buy" from the five brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $41.00.

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Central Garden & Pet from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Argus downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Thursday, February 6th.

Central Garden & Pet Stock Down 3.8 %

Shares of NASDAQ:CENTA traded down $1.25 during midday trading on Friday, reaching $31.61. 60,205 shares of the company were exchanged, compared to its average volume of 318,349. The firm has a market cap of $2.07 billion, a PE ratio of 17.37 and a beta of 0.70. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. Central Garden & Pet has a fifty-two week low of $27.70 and a fifty-two week high of $41.03. The stock has a fifty day simple moving average of $32.03 and a two-hundred day simple moving average of $31.90.

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Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. As a group, sell-side analysts forecast that Central Garden & Pet will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction on Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the transaction, the insider now owns 67,111 shares of the company's stock, valued at $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.28% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Central Garden & Pet by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 5,979,003 shares of the company's stock valued at $197,606,000 after acquiring an additional 306,449 shares in the last quarter. State Street Corp grew its holdings in Central Garden & Pet by 3.3% in the third quarter. State Street Corp now owns 2,175,277 shares of the company's stock worth $68,304,000 after purchasing an additional 68,689 shares during the period. American Century Companies Inc. increased its stake in Central Garden & Pet by 14.1% in the fourth quarter. American Century Companies Inc. now owns 1,373,100 shares of the company's stock valued at $45,381,000 after purchasing an additional 170,121 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Central Garden & Pet by 1.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 961,615 shares of the company's stock valued at $31,781,000 after purchasing an additional 14,144 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Central Garden & Pet by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,512 shares of the company's stock valued at $27,515,000 after purchasing an additional 59,489 shares during the period. 50.82% of the stock is owned by institutional investors.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.