Central Garden & Pet Company (CENT) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Central Garden & Pet Company (NASDAQ:CENT) from a sell rating to a hold rating in a research note published on Monday, July 24th.

A number of other equities analysts also recently issued reports on CENT. Zacks Investment Research downgraded Central Garden & Pet from a hold rating to a sell rating in a research note on Thursday, July 20th. CL King began coverage on Central Garden & Pet in a research note on Friday, July 7th. They issued a buy rating and a $38.00 target price on the stock. Oppenheimer Holdings, Inc. restated a hold rating on shares of Central Garden & Pet in a research note on Tuesday, June 20th. Argus began coverage on Central Garden & Pet in a research note on Wednesday, April 19th. They issued a buy rating and a $44.00 target price on the stock. Finally, Sidoti upgraded Central Garden & Pet from a neutral rating to a buy rating in a research note on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Central Garden & Pet has a consensus rating of Hold and an average target price of $39.00.

Central Garden & Pet (NASDAQ:CENT) opened at 34.26 on Monday. Central Garden & Pet has a 52 week low of $22.97 and a 52 week high of $39.33. The company’s 50-day moving average price is $33.02 and its 200 day moving average price is $34.03. The company has a market capitalization of $1.77 billion, a PE ratio of 25.84 and a beta of 0.12.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.11. The business had revenue of $574.59 million during the quarter, compared to the consensus estimate of $544.26 million. Central Garden & Pet had a return on equity of 13.66% and a net margin of 3.49%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, equities research analysts anticipate that Central Garden & Pet will post $1.50 EPS for the current year.

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In other news, Director Brooks Pennington III sold 2,226 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $33.58, for a total value of $74,749.08. Following the transaction, the director now owns 48,365 shares of the company’s stock, valued at $1,624,096.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Ranelli sold 3,100 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $29.33, for a total transaction of $90,923.00. Following the completion of the transaction, the director now owns 110,668 shares of the company’s stock, valued at $3,245,892.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,230 shares of company stock worth $3,209,400. Insiders own 11.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in Central Garden & Pet by 66.6% in the fourth quarter. FMR LLC now owns 501,105 shares of the company’s stock valued at $16,582,000 after buying an additional 200,400 shares during the last quarter. Renaissance Technologies LLC raised its stake in Central Garden & Pet by 34.8% in the second quarter. Renaissance Technologies LLC now owns 641,776 shares of the company’s stock valued at $20,402,000 after buying an additional 165,676 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Central Garden & Pet during the first quarter valued at about $4,363,000. Vanguard Group Inc. raised its stake in Central Garden & Pet by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,322,444 shares of the company’s stock valued at $49,022,000 after buying an additional 106,439 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Central Garden & Pet by 102.9% in the second quarter. Russell Investments Group Ltd. now owns 179,861 shares of the company’s stock worth $5,718,000 after buying an additional 91,219 shares in the last quarter. Institutional investors and hedge funds own 20.89% of the company’s stock.

Central Garden & Pet Company Profile

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

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