Central Garden & Pet (NASDAQ:CENT – Get Free Report) had its target price upped by analysts at Truist Financial from $50.00 to $60.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 44.82% from the stock’s current price.
Separately, TheStreet cut shares of Central Garden & Pet from a “b” rating to a “c+” rating in a report on Tuesday, November 21st.
Read Our Latest Analysis on Central Garden & Pet
Central Garden & Pet Price Performance
Shares of NASDAQ:CENT opened at $41.43 on Friday. The firm’s 50 day moving average is $34.66 and its two-hundred day moving average is $30.30. Central Garden & Pet has a 52 week low of $28.48 and a 52 week high of $44.45. The firm has a market capitalization of $2.23 billion, a P/E ratio of 16.44 and a beta of 0.66. The company has a current ratio of 3.47, a quick ratio of 1.90 and a debt-to-equity ratio of 0.82.
Central Garden & Pet (NASDAQ:CENT – Get Free Report) last announced its quarterly earnings results on Monday, November 20th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $750.15 million for the quarter, compared to analyst estimates of $731.81 million. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. During the same quarter last year, the business earned ($0.03) earnings per share. Analysts anticipate that Central Garden & Pet will post 2.5 earnings per share for the current year.
Insider Buying and Selling
In related news, Director John Ranelli sold 4,375 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $23.18, for a total transaction of $101,416.00. Following the completion of the sale, the director now directly owns 227 shares in the company, valued at $5,262.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John Ranelli sold 4,375 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $23.18, for a total transaction of $101,416.00. Following the completion of the sale, the director now directly owns 227 shares in the company, valued at $5,262.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Edward Hanson sold 9,375 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $25.11, for a total transaction of $235,380.00. Following the completion of the transaction, the insider now directly owns 53,918 shares of the company’s stock, valued at approximately $1,353,730.01. The disclosure for this sale can be found here. 9.53% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Central Garden & Pet
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its position in Central Garden & Pet by 43.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,176 shares of the company’s stock worth $96,000 after buying an additional 660 shares in the last quarter. Swiss National Bank lifted its position in Central Garden & Pet by 7.1% in the 1st quarter. Swiss National Bank now owns 22,750 shares of the company’s stock worth $1,000,000 after buying an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Central Garden & Pet by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 110,564 shares of the company’s stock worth $4,862,000 after buying an additional 1,758 shares in the last quarter. Citigroup Inc. lifted its position in Central Garden & Pet by 9.0% in the 1st quarter. Citigroup Inc. now owns 14,464 shares of the company’s stock worth $636,000 after buying an additional 1,189 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Central Garden & Pet by 6.4% in the 1st quarter. MetLife Investment Management LLC now owns 4,731 shares of the company’s stock worth $208,000 after buying an additional 285 shares in the last quarter. Institutional investors and hedge funds own 17.74% of the company’s stock.
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.
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