Central Garden & Pet (NASDAQ:CENTA) Downgraded by StockNews.com

StockNews.com downgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other brokerages also recently commented on CENTA. JPMorgan Chase & Co. decreased their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $41.33.

Central Garden & Pet Trading Down 0.4 %

Shares of Central Garden & Pet stock opened at $30.20 on Wednesday. The company’s fifty day simple moving average is $32.16 and its 200-day simple moving average is $34.12. The stock has a market capitalization of $2.04 billion, a PE ratio of 13.54 and a beta of 0.72. Central Garden & Pet has a 1-year low of $27.70 and a 1-year high of $41.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1.01 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. During the same quarter last year, the company posted $1.40 EPS. As a group, equities analysts anticipate that Central Garden & Pet will post 2.11 earnings per share for the current year.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the transaction, the director now directly owns 40,743 shares of the company’s stock, valued at $1,336,370.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the transaction, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,986 shares of company stock worth $2,146,841. Insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in Central Garden & Pet during the fourth quarter worth about $281,000. Vanguard Group Inc. increased its holdings in shares of Central Garden & Pet by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,330,010 shares of the company’s stock valued at $190,694,000 after acquiring an additional 29,072 shares during the period. PNC Financial Services Group Inc. raised its position in Central Garden & Pet by 3.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,693 shares of the company’s stock worth $427,000 after buying an additional 341 shares during the last quarter. GAMMA Investing LLC raised its position in Central Garden & Pet by 61.3% during the 1st quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock worth $50,000 after buying an additional 519 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its stake in shares of Central Garden & Pet by 22.7% during the 1st quarter. Congress Asset Management Co. MA now owns 183,737 shares of the company’s stock worth $6,784,000 after purchasing an additional 33,983 shares during the period. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Company Profile

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.