Central Garden & Pet (NASDAQ:CENT) Receives $52.75 Consensus PT from Analysts

Central Garden & Pet (NASDAQ:CENT - Get Free Report) has been assigned a consensus recommendation of "Buy" from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $52.50.

CENT has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $48.00 price target on shares of Central Garden & Pet in a research report on Monday. Canaccord Genuity Group raised shares of Central Garden & Pet to a "strong-buy" rating in a research note on Monday, July 1st.

Central Garden & Pet Price Performance

Shares of CENT stock traded down $0.18 during mid-day trading on Monday, reaching $36.47. The company's stock had a trading volume of 114,739 shares, compared to its average volume of 116,440. The company has a market cap of $2.46 billion, a P/E ratio of 16.35 and a beta of 0.75. Central Garden & Pet has a 1-year low of $30.75 and a 1-year high of $47.48. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. The firm's 50-day moving average is $38.65 and its two-hundred day moving average is $40.39.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.11. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The business had revenue of $996.35 million during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. Central Garden & Pet's revenue for the quarter was down 2.6% compared to the same quarter last year. On average, research analysts predict that Central Garden & Pet will post 2.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John Ranelli sold 2,500 shares of Central Garden & Pet stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.28, for a total value of $85,700.00. Following the sale, the director now owns 822 shares of the company's stock, valued at approximately $28,178.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the sale, the chairman now owns 1,125,773 shares of the company's stock, valued at $37,758,426.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Ranelli sold 2,500 shares of the company's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total value of $85,700.00. Following the sale, the director now owns 822 shares in the company, valued at approximately $28,178.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,986 shares of company stock worth $2,146,841. Corporate insiders own 9.53% of the company's stock.

Hedge Funds Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently made changes to their positions in CENT. Cubist Systematic Strategies LLC acquired a new position in shares of Central Garden & Pet during the 2nd quarter worth approximately $187,000. Point72 Asset Management L.P. acquired a new position in Central Garden & Pet in the 2nd quarter valued at about $113,000. Marshall Wace LLP raised its holdings in Central Garden & Pet by 748.5% in the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock valued at $3,234,000 after acquiring an additional 74,100 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Central Garden & Pet by 6.1% during the second quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company's stock worth $808,000 after acquiring an additional 1,200 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Central Garden & Pet by 20.0% during the second quarter. Sei Investments Co. now owns 36,710 shares of the company's stock worth $1,413,000 after purchasing an additional 6,121 shares during the period. 16.13% of the stock is owned by institutional investors.

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.