Central Garden & Pet (NASDAQ:CENTA) Upgraded to “Buy” at StockNews.com

Central Garden & Pet (NASDAQ:CENTA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other brokerages have also weighed in on CENTA. JPMorgan Chase & Co. increased their target price on Central Garden & Pet from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Truist Financial increased their target price on Central Garden & Pet from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.00.

Central Garden & Pet Trading Up 1.9 %

Shares of Central Garden & Pet stock traded up $0.64 during trading hours on Friday, reaching $34.52. 176,432 shares of the company’s stock were exchanged, compared to its average volume of 254,037. Central Garden & Pet has a 52-week low of $27.02 and a 52-week high of $39.55. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 17.09 and a beta of 0.69. The company has a fifty day moving average of $36.20 and a 200-day moving average of $30.83. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.15. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The company had revenue of $634.53 million for the quarter, compared to analyst estimates of $620.11 million. Sell-side analysts forecast that Central Garden & Pet will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Howard Machek sold 5,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the completion of the sale, the chief accounting officer now directly owns 59,406 shares in the company, valued at approximately $2,162,378.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director John Ranelli sold 2,400 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total value of $92,016.00. Following the completion of the sale, the director now directly owns 41 shares in the company, valued at approximately $1,571.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Howard Machek sold 5,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $36.40, for a total value of $182,000.00. Following the completion of the sale, the chief accounting officer now owns 59,406 shares of the company’s stock, valued at $2,162,378.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,822 shares of company stock valued at $965,026. 20.28% of the stock is currently owned by company insiders.

Institutional Trading of Central Garden & Pet

Several large investors have recently added to or reduced their stakes in CENTA. PNC Financial Services Group Inc. grew its stake in shares of Central Garden & Pet by 44.5% during the first quarter. PNC Financial Services Group Inc. now owns 12,340 shares of the company’s stock valued at $503,000 after acquiring an additional 3,801 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Central Garden & Pet during the first quarter valued at about $455,000. MetLife Investment Management LLC grew its stake in shares of Central Garden & Pet by 58.2% during the first quarter. MetLife Investment Management LLC now owns 21,193 shares of the company’s stock valued at $864,000 after acquiring an additional 7,797 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Central Garden & Pet by 1.1% during the first quarter. Rhumbline Advisers now owns 113,324 shares of the company’s stock valued at $4,621,000 after acquiring an additional 1,242 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Central Garden & Pet by 11.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,296 shares of the company’s stock valued at $1,480,000 after acquiring an additional 3,823 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors and hedge funds.

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.