Central Garden & Pet (NASDAQ:CENTA) Given New $30.00 Price Target at JPMorgan Chase & Co.

Central Garden & Pet (NASDAQ:CENTA) had its target price trimmed by JPMorgan Chase & Co. from $35.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

CENTA has been the topic of a number of other research reports. Zacks Research raised Central Garden & Pet from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Wall Street Zen raised Central Garden & Pet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 20th. Canaccord Genuity Group boosted their target price on Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Central Garden & Pet in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Central Garden & Pet Stock Up 1.2%

Shares of NASDAQ CENTA opened at $28.68 on Thursday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 13.04 and a beta of 0.63. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75. Central Garden & Pet has a 52-week low of $25.97 and a 52-week high of $37.35. The business’s 50 day moving average is $30.72 and its two-hundred day moving average is $31.73.

Central Garden & Pet (NASDAQ:CENTA) last announced its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.22. The company had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. Research analysts predict that Central Garden & Pet will post 2.38 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In related news, Director John Ranelli sold 3,076 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.58, for a total value of $100,216.08. Following the transaction, the director owned 1,427 shares of the company’s stock, valued at $46,491.66. This represents a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John D. Walker III sold 3,500 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.59, for a total value of $114,065.00. Following the completion of the transaction, the insider directly owned 67,328 shares in the company, valued at $2,194,219.52. This trade represents a 4.94% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Central Garden & Pet by 4.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,652 shares of the company’s stock valued at $447,000 after acquiring an additional 604 shares in the last quarter. Nordea Investment Management AB boosted its stake in Central Garden & Pet by 11.2% in the second quarter. Nordea Investment Management AB now owns 173,511 shares of the company’s stock valued at $5,420,000 after acquiring an additional 17,508 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Central Garden & Pet in the first quarter valued at $224,000. Charles Schwab Investment Management Inc. boosted its stake in Central Garden & Pet by 5.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 879,769 shares of the company’s stock valued at $28,795,000 after acquiring an additional 47,257 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Central Garden & Pet in the first quarter valued at $1,386,000. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.