Brokerages Set Central Garden & Pet (NASDAQ:CENT) Target Price at $46.75

Shares of Central Garden & Pet (NASDAQ:CENT) have been assigned an average recommendation of “Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $46.75.

A number of equities analysts recently commented on the company. Canaccord Genuity Group lowered their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Argus lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Truist Financial reduced their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th.

Central Garden & Pet Stock Performance

Shares of Central Garden & Pet stock opened at $35.15 on Wednesday. The business has a 50-day moving average of $38.73 and a 200 day moving average of $37.92. Central Garden & Pet has a 12 month low of $32.17 and a 12 month high of $47.48. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 21.72 and a beta of 0.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The company had revenue of $669.49 million during the quarter, compared to analysts’ expectations of $707.83 million. Central Garden & Pet’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current year.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently made changes to their positions in CENT. Empowered Funds LLC acquired a new position in Central Garden & Pet during the third quarter worth approximately $1,681,000. Quest Partners LLC acquired a new position in Central Garden & Pet during the third quarter worth approximately $797,000. American Century Companies Inc. increased its position in Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after buying an additional 32,009 shares during the period. Marshall Wace LLP increased its position in Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after buying an additional 74,100 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Central Garden & Pet by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after buying an additional 1,873 shares during the period. Institutional investors and hedge funds own 16.13% of the company’s stock.

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.