Central Garden & Pet (NASDAQ:CENTA) PT Raised to $42.00

Central Garden & Pet (NASDAQ:CENTA) had its price objective lifted by equities researchers at Monness Crespi & Hardt from $39.00 to $42.00 in a research report issued on Thursday, Briefing.com reports. The brokerage currently has a “buy” rating on the stock. Monness Crespi & Hardt’s price objective suggests a potential upside of 16.86% from the stock’s current price.

CENTA has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price objective on Central Garden & Pet from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. StockNews.com upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Truist Financial lifted their price objective on shares of Central Garden & Pet from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Central Garden & Pet Price Performance

Shares of CENTA stock opened at $35.94 on Thursday. Central Garden & Pet has a 1 year low of $27.02 and a 1 year high of $39.55. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $35.85 and its 200-day moving average is $31.80. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 17.79 and a beta of 0.70.

Central Garden & Pet (NASDAQ:CENTA) last released its 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 during the quarter, compared to the consensus estimate of $620.11 million. Sell-side analysts forecast that Central Garden & Pet will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Central Garden & Pet news, CFO Nicholas Lahanas sold 13,101 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $37.64, for a total transaction of $493,121.64. Following the transaction, the chief financial officer now owns 115,796 shares of the company’s stock, valued at $4,358,561.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Central Garden & Pet news, CFO Nicholas Lahanas sold 13,101 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $37.64, for a total value of $493,121.64. Following the transaction, the chief financial officer now directly owns 115,796 shares in the company, valued at $4,358,561.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Edward Hanson sold 5,321 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $37.19, for a total transaction of $197,887.99. Following the sale, the insider now owns 35,460 shares of the company’s stock, valued at approximately $1,318,757.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,822 shares of company stock valued at $965,026. 20.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Central Garden & Pet in the fourth quarter valued at approximately $35,000. SG Americas Securities LLC acquired a new position in Central Garden & Pet in the 1st quarter valued at $174,000. North Star Investment Management Corp. bought a new stake in shares of Central Garden & Pet during the 1st quarter valued at $194,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Central Garden & Pet during the 1st quarter worth $208,000. Finally, Brighton Jones LLC bought a new position in shares of Central Garden & Pet in the fourth quarter worth $215,000. Institutional investors and hedge funds own 50.82% 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.