BidaskClub cut shares of Central Garden & Pet (NASDAQ:CENT) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, BidAskClub reports.

CENT has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Central Garden & Pet from a hold rating to a sell rating and set a $31.00 target price on the stock. in a research report on Monday, October 28th. ValuEngine lowered shares of Central Garden & Pet from a buy rating to a hold rating in a report on Friday, February 7th. SunTrust Banks lifted their price target on shares of Central Garden & Pet from $25.00 to $30.00 and gave the stock a hold rating in a report on Thursday, February 6th. Argus lowered shares of Central Garden & Pet from a buy rating to a hold rating in a report on Friday, November 29th. Finally, Bank of America lowered shares of Central Garden & Pet from a buy rating to a neutral rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Central Garden & Pet currently has a consensus rating of Hold and an average target price of $32.33.

Central Garden & Pet stock traded up $0.06 during mid-day trading on Thursday, reaching $30.12. The company had a trading volume of 58,152 shares, compared to its average volume of 60,411. Central Garden & Pet has a fifty-two week low of $22.40 and a fifty-two week high of $34.69. The company has a current ratio of 3.84, a quick ratio of 2.22 and a debt-to-equity ratio of 0.79. The company has a market cap of $1.68 billion, a P/E ratio of 20.21, a P/E/G ratio of 2.56 and a beta of -0.08. The business has a fifty day simple moving average of $31.53 and a 200 day simple moving average of $29.05.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Wednesday, February 5th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. Central Garden & Pet had a net margin of 3.60% and a return on equity of 8.60%. The firm had revenue of $482.83 million for the quarter, compared to analyst estimates of $475.91 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Research analysts forecast that Central Garden & Pet will post 1.62 EPS for the current year.

In other news, CEO Timothy P. Cofer bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average price of $26.00 per share, for a total transaction of $260,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.50% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CENT. Bank of Montreal Can increased its stake in Central Garden & Pet by 32.9% in the fourth quarter. Bank of Montreal Can now owns 1,407 shares of the company’s stock valued at $44,000 after purchasing an additional 348 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Central Garden & Pet by 180.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,740 shares of the company’s stock valued at $116,000 after purchasing an additional 2,405 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Central Garden & Pet in the fourth quarter valued at $135,000. State of Tennessee Treasury Department increased its stake in Central Garden & Pet by 8.5% in the third quarter. State of Tennessee Treasury Department now owns 4,450 shares of the company’s stock valued at $130,000 after purchasing an additional 350 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Central Garden & Pet by 20.8% in the third quarter. New York State Teachers Retirement System now owns 5,818 shares of the company’s stock valued at $170,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 19.64% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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