Truist Financial Boosts Central Garden & Pet (NASDAQ:CENTA) Price Target to $60.00

Central Garden & Pet (NASDAQ:CENTA – Get Free Report) had its target price raised by research analysts at Truist Financial from $50.00 to $60.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 67.13% from the company’s previous close.

Several other analysts have also recently commented on the company. StockNews.com upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a report on Thursday. TheStreet cut Central Garden & Pet from a “b” rating to a “c+” rating in a report on Tuesday, November 21st. Finally, JPMorgan Chase & Co. raised their price target on Central Garden & Pet from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

View Our Latest Stock Analysis on CENTA

Central Garden & Pet Stock Performance

Shares of CENTA traded up $1.25 on Friday, reaching $35.90. 515,620 shares of the stock traded hands, compared to its average volume of 255,870. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 14.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.73 and a quick ratio of 1.90. Central Garden & Pet has a 12 month low of $27.02 and a 12 month high of $39.55. The stock’s 50-day moving average price is $37.88 and its 200-day moving average price is $34.04.

Central Garden & Pet (NASDAQ:CENTA – Get Free Report) last released its quarterly earnings data on Monday, November 20th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Central Garden & Pet had a return on equity of 10.37% and a net margin of 4.06%. The firm had revenue of $750.15 million during the quarter, compared to analyst estimates of $731.81 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Equities analysts forecast that Central Garden & Pet will post 2.53 EPS for the current fiscal year.

Insider Transactions at Central Garden & Pet

In other news, Director John Ranelli sold 4,375 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $23.18, for a total transaction of $101,416.00. Following the sale, the director now owns 227 shares of the company’s stock, valued at $5,262.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider John Edward Hanson sold 9,375 shares of Central Garden & Pet stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $25.11, for a total value of $235,380.00. Following the sale, the insider now owns 53,918 shares of the company’s stock, valued at approximately $1,353,730.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Ranelli sold 4,375 shares of Central Garden & Pet stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $23.18, for a total value of $101,416.00. Following the completion of the sale, the director now directly owns 227 shares in the company, valued at approximately $5,262.04. The disclosure for this sale can be found here. 20.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in Central Garden & Pet in the fourth quarter valued at approximately $35,000. Point72 Hong Kong Ltd bought a new position in Central Garden & Pet in the second quarter valued at approximately $42,000. Exchange Traded Concepts LLC grew its stake in Central Garden & Pet by 538.6% in the third quarter. Exchange Traded Concepts LLC now owns 1,456 shares of the company’s stock valued at $58,000 after purchasing an additional 1,228 shares in the last quarter. State of Wyoming grew its stake in Central Garden & Pet by 66.8% in the second quarter. State of Wyoming now owns 1,583 shares of the company’s stock valued at $58,000 after purchasing an additional 634 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Central Garden & Pet during the 2nd quarter worth approximately $100,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Central Garden & Pet Company Profile

(Get Free Report)

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.

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