Central Garden & Pet (NASDAQ:CENTA) Posts Earnings Results, Beats Expectations By $0.09 EPS

Central Garden & Pet (NASDAQ:CENTA) posted its quarterly earnings results on Wednesday. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09, Zacks reports. Central Garden & Pet had a return on equity of 11.17% and a net margin of 5.20%.

Central Garden & Pet Stock Up 1.8%

CENTA stock traded up $0.55 during trading on Wednesday, reaching $31.77. 188,759 shares of the stock were exchanged, compared to its average volume of 250,609. The firm has a market cap of $1.98 billion, a P/E ratio of 12.46 and a beta of 0.67. Central Garden & Pet has a twelve month low of $25.97 and a twelve month high of $37.35. The firm’s 50 day moving average is $29.84 and its 200 day moving average is $30.59. The company has a current ratio of 3.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.75.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen lowered shares of Central Garden & Pet from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. KeyCorp reiterated an “overweight” rating on shares of Central Garden & Pet in a report on Wednesday, December 17th. Weiss Ratings lowered shares of Central Garden & Pet from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $28.00 price target (down previously from $31.00) on shares of Central Garden & Pet in a research note on Friday, January 16th. Finally, Canaccord Genuity Group raised shares of Central Garden & Pet to a “buy” rating in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.75.

Institutional Trading of Central Garden & Pet

Several hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new position in Central Garden & Pet during the third quarter worth $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Central Garden & Pet by 444.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,001 shares of the company’s stock worth $31,000 after acquiring an additional 817 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Central Garden & Pet by 239.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,220 shares of the company’s stock valued at $195,000 after acquiring an additional 4,388 shares in the last quarter. Vestcor Inc acquired a new position in Central Garden & Pet during the 3rd quarter valued at about $208,000. Finally, Aristides Capital LLC increased its holdings in Central Garden & Pet by 8.0% during the 3rd quarter. Aristides Capital LLC now owns 8,436 shares of the company’s stock worth $249,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet Co is a leading producer, marketer and distributor of branded consumable gardening products and pet supplies in North America. Headquartered in Walnut Creek, California, the company serves both retail and wholesale customers through a network of distribution centers across the United States and Canada. Operating under the ticker symbol CENTA on the NASDAQ exchange, Central Garden & Pet has been publicly traded since 2003.

The company’s Garden segment offers a broad portfolio of lawn and garden care solutions, including fertilizers, weed and pest control products, soil and mulch, and plant care accessories.