Central Garden & Pet (NASDAQ:CENT) Given New $40.00 Price Target at Truist Financial

Central Garden & Pet (NASDAQ:CENT) had its target price lowered by Truist Financial from $50.00 to $40.00 in a report released on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research firms also recently commented on CENT. Canaccord Genuity Group restated a “buy” rating and issued a $48.00 price target on shares of Central Garden & Pet in a research note on Monday, September 30th. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Central Garden & Pet has a consensus rating of “Buy” and a consensus price target of $47.50.

Central Garden & Pet Stock Up 2.8 %

NASDAQ:CENT opened at $35.82 on Wednesday. Central Garden & Pet has a 52 week low of $30.75 and a 52 week high of $47.48. The stock’s fifty day moving average is $37.44 and its two-hundred day moving average is $39.67. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 16.06 and a beta of 0.75. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. The company had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. Central Garden & Pet’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. Research analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current year.

Insider Transactions at Central Garden & Pet

In related news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman William E. Brown sold 60,000 shares of the company’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 value of $2,012,400.00. Following the completion of the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 63,986 shares of company stock valued at $2,146,841. Insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Central Garden & Pet in the 2nd quarter valued at about $51,000. Point72 Asset Management L.P. purchased a new stake in Central Garden & Pet in the second quarter valued at approximately $113,000. SG Americas Securities LLC acquired a new stake in shares of Central Garden & Pet in the third quarter valued at approximately $111,000. EntryPoint Capital LLC grew its position in shares of Central Garden & Pet by 909.2% during the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after acquiring an additional 3,846 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Central Garden & Pet in the 2nd quarter valued at $187,000. Institutional investors and hedge funds own 16.13% 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.