Central Garden & Pet (NASDAQ:CENT) Receives Average Recommendation of "Buy" from Analysts

Central Garden & Pet (NASDAQ:CENT - Get Free Report) has been given a consensus recommendation of "Buy" by the five analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $53.50.

A number of research analysts recently weighed in on CENT shares. Canaccord Genuity Group initiated coverage on Central Garden & Pet in a report on Tuesday, March 12th. They issued a "buy" rating and a $52.00 target price on the stock. Argus upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Tuesday, May 28th. Canaccord Genuity Group began coverage on shares of Central Garden & Pet in a research note on Tuesday, March 12th. They set a "buy" rating and a $52.00 price objective for the company. Monness Crespi & Hardt upgraded shares of Central Garden & Pet to a "strong-buy" rating in a research note on Thursday, May 9th. Finally, TheStreet upgraded shares of Central Garden & Pet from a "c+" rating to a "b-" rating in a research note on Friday, March 1st.

Central Garden & Pet Trading Up 2.0 %

Shares of CENT traded up $0.77 on Friday, hitting $39.21. 552,049 shares of the stock traded hands, compared to its average volume of 97,572. The company has a quick ratio of 1.68, a current ratio of 3.33 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $2.64 billion, a P/E ratio of 17.61 and a beta of 0.76. The stock's 50 day moving average is $42.32 and its two-hundred day moving average is $39.83. Central Garden & Pet has a 1 year low of $29.53 and a 1 year high of $47.48.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.16. The business had revenue of $900.10 million for the quarter, compared to the consensus estimate of $888.74 million. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The company's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, sell-side analysts predict that Central Garden & Pet will post 2.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman William E. Brown sold 700,000 shares of the business's stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the transaction, the chairman now directly owns 1,189,615 shares of the company's stock, valued at $43,123,543.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Nicholas Lahanas sold 30,000 shares of the business's stock in a transaction on Monday, May 13th. The shares were sold at an average price of $39.98, for a total transaction of $1,199,400.00. Following the transaction, the chief financial officer now directly owns 87,528 shares of the company's stock, valued at $3,499,369.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman William E. Brown sold 700,000 shares of the business's stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the transaction, the chairman now directly owns 1,189,615 shares in the company, valued at $43,123,543.75. The disclosure for this sale can be found here. Insiders sold a total of 744,218 shares of company stock worth $27,144,928 over the last ninety days. 9.53% of the stock is owned by company insiders.

Institutional Trading of Central Garden & Pet

Several institutional investors have recently added to or reduced their stakes in CENT. EntryPoint Capital LLC raised its holdings in Central Garden & Pet by 909.2% in the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company's stock valued at $183,000 after acquiring an additional 3,846 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Central Garden & Pet in the fourth quarter valued at $241,000. Nisa Investment Advisors LLC raised its holdings in Central Garden & Pet by 28.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company's stock valued at $243,000 after acquiring an additional 1,070 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Central Garden & Pet by 21.8% in the fourth quarter. New York State Teachers Retirement System now owns 5,137 shares of the company's stock valued at $257,000 after acquiring an additional 919 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Central Garden & Pet by 112.4% in the first quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company's stock valued at $264,000 after acquiring an additional 3,265 shares in the last quarter. 16.13% of the stock is owned by institutional investors and hedge funds.

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.