Central Garden & Pet (NASDAQ:CENTA) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a hold rating to a buy rating in a research note issued to investors on Thursday, BidAskClub reports.

Several other brokerages have also commented on CENTA. KeyCorp dropped their price target on Central Garden & Pet from $39.00 to $36.00 and set an overweight rating for the company in a research note on Friday, August 2nd. Zacks Investment Research upgraded Central Garden & Pet from a sell rating to a hold rating in a research note on Tuesday, August 20th. Finally, Monness Crespi & Hardt restated a buy rating and set a $36.00 price target (down from $44.00) on shares of Central Garden & Pet in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $38.50.

NASDAQ CENTA traded up $0.03 during trading hours on Thursday, hitting $26.88. 296,859 shares of the company’s stock were exchanged, compared to its average volume of 315,719. The business’s 50 day moving average is $23.66 and its 200-day moving average is $25.01. Central Garden & Pet has a 12-month low of $20.50 and a 12-month high of $36.96. The firm has a market capitalization of $1.50 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 2.68 and a beta of 0.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.17 and a current ratio of 4.84.

Central Garden & Pet (NASDAQ:CENTA) last released its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.06). Central Garden & Pet had a return on equity of 9.66% and a net margin of 4.30%. The business had revenue of $706.58 million for the quarter, compared to analysts’ expectations of $689.17 million. As a group, equities research analysts anticipate that Central Garden & Pet will post 1.73 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Central Garden & Pet by 1.8% in the second quarter. Vanguard Group Inc. now owns 4,469,261 shares of the company’s stock valued at $110,123,000 after buying an additional 80,776 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Central Garden & Pet by 4.2% in the second quarter. Wells Fargo & Company MN now owns 1,332,732 shares of the company’s stock valued at $32,839,000 after buying an additional 53,636 shares in the last quarter. Rothschild & Co. Asset Management US Inc. grew its stake in shares of Central Garden & Pet by 2.3% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 1,072,896 shares of the company’s stock valued at $26,436,000 after buying an additional 23,719 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of Central Garden & Pet by 0.6% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,050,104 shares of the company’s stock valued at $25,874,000 after buying an additional 6,427 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its stake in shares of Central Garden & Pet by 3.2% in the first quarter. State of Wisconsin Investment Board now owns 1,023,874 shares of the company’s stock valued at $23,805,000 after buying an additional 31,782 shares in the last quarter. Institutional investors own 67.12% 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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