JPMorgan Chase & Co. Cuts Central Garden & Pet (NASDAQ:CENTA) Price Target to $31.00

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $34.00 to $31.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 0.91% from the stock's previous close.

CENTA has been the topic of several other reports. Argus cut shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Central Garden & Pet Price Performance

Shares of NASDAQ:CENTA traded down $1.54 on Friday, reaching $30.72. 156,362 shares of the company traded hands, compared to its average volume of 306,165. The stock has a market capitalization of $2.01 billion, a PE ratio of 16.88 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97. The company's 50 day moving average is $32.00 and its 200-day moving average is $31.82. Central Garden & Pet has a fifty-two week low of $27.70 and a fifty-two week high of $41.03.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating the consensus estimate 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, analysts anticipate that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 67,111 shares in the company, valued at $2,205,267.46. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.28% of the stock is owned by company insiders.

Institutional Trading of Central Garden & Pet

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of Central Garden & Pet by 33.8% during the third quarter. FMR LLC now owns 76,388 shares of the company's stock valued at $2,399,000 after buying an additional 19,306 shares during the last quarter. Barclays PLC lifted its position in shares of Central Garden & Pet by 161.7% in the 3rd quarter. Barclays PLC now owns 122,530 shares of the company's stock worth $3,849,000 after acquiring an additional 75,718 shares during the period. Denali Advisors LLC acquired a new stake in shares of Central Garden & Pet during the 4th quarter worth approximately $1,573,000. Principal Financial Group Inc. increased its position in shares of Central Garden & Pet by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock valued at $8,868,000 after purchasing an additional 8,889 shares during the period. Finally, Highbridge Capital Management LLC raised its stake in shares of Central Garden & Pet by 89.8% in the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company's stock valued at $22,667,000 after purchasing an additional 324,493 shares in the last quarter. Institutional investors own 50.82% of the company's stock.

About Central Garden & Pet

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.