Central Garden & Pet Company (NASDAQ:CENT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Central Garden & Pet Company (NASDAQ:CENT) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $41.00.

Several analysts have recently weighed in on CENT shares. CL King started coverage on shares of Central Garden & Pet in a research note on Friday, July 7th. They set a “buy” rating and a $38.00 price target for the company. Zacks Investment Research raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Tuesday, April 25th. Argus started coverage on shares of Central Garden & Pet in a research note on Wednesday, April 19th. They set a “buy” rating and a $44.00 price target for the company. Sidoti raised shares of Central Garden & Pet from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. Finally, BidaskClub raised shares of Central Garden & Pet from a “sell” rating to a “hold” rating in a report on Saturday, June 10th.

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Central Garden & Pet (NASDAQ:CENT) traded down 0.72% on Tuesday, reaching $34.53. The company’s stock had a trading volume of 16,234 shares. The company has a market capitalization of $1.79 billion, a PE ratio of 26.04 and a beta of 0.12. The firm has a 50-day moving average of $32.63 and a 200-day moving average of $34.00. Central Garden & Pet has a one year low of $22.97 and a one year high of $39.33.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 3.49% and a return on equity of 13.66%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Analysts predict that Central Garden & Pet will post $1.50 EPS for the current year.

In other Central Garden & Pet news, insider Michael A. Reed sold 15,016 shares of Central Garden & Pet stock in a transaction on Monday, August 7th. The shares were sold at an average price of $34.31, for a total value of $515,198.96. Following the transaction, the insider now directly owns 135,008 shares of the company’s stock, valued at $4,632,124.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Ranelli sold 11,800 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $34.41, for a total transaction of $406,038.00. Following the sale, the director now directly owns 110,668 shares in the company, valued at $3,808,085.88. The disclosure for this sale can be found here. Insiders sold 79,091 shares of company stock worth $2,506,786 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can raised its stake in shares of Central Garden & Pet by 11.3% in the first quarter. Great West Life Assurance Co. Can now owns 13,514 shares of the company’s stock worth $501,000 after buying an additional 1,369 shares during the period. Camelot Portfolios LLC acquired a new position in Central Garden & Pet during the first quarter worth about $328,000. Wells Fargo & Company MN increased its position in Central Garden & Pet by 7.6% in the first quarter. Wells Fargo & Company MN now owns 838,948 shares of the company’s stock worth $31,099,000 after buying an additional 59,091 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Central Garden & Pet during the first quarter worth about $4,363,000. Finally, Strs Ohio increased its position in Central Garden & Pet by 1,450.0% in the first quarter. Strs Ohio now owns 6,200 shares of the company’s stock worth $229,000 after buying an additional 5,800 shares in the last quarter. 21.19% of the stock is currently owned by hedge funds and other institutional investors.

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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