Central Garden & Pet (NASDAQ:CENTA) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Central Garden & Pet (NASDAQ:CENTA) from a strong-buy rating to a buy rating in a research note released on Saturday.

A number of other analysts have also recently commented on CENTA. Canaccord Genuity Group lifted their target price on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. cut their price target on Central Garden & Pet from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Central Garden & Pet in a research report on Thursday, October 30th. Finally, Zacks Research cut shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.33.

Central Garden & Pet Stock Up 0.7%

Shares of NASDAQ:CENTA opened at $28.39 on Friday. The firm has a 50 day simple moving average of $29.82 and a 200-day simple moving average of $31.52. Central Garden & Pet has a twelve month low of $25.97 and a twelve month high of $37.35. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.78 billion, a PE ratio of 12.90 and a beta of 0.63.

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

Insider Buying and Selling at Central Garden & Pet

In other news, insider John D. Walker III sold 3,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.59, for a total transaction of $114,065.00. Following the transaction, the insider directly owned 67,328 shares in the company, valued at $2,194,219.52. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Ranelli sold 3,076 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.58, for a total transaction of $100,216.08. Following the transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

A number of large investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its holdings in shares of Central Garden & Pet by 164.0% in the 3rd quarter. Federated Hermes Inc. now owns 858 shares of the company’s stock valued at $25,000 after buying an additional 533 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Central Garden & Pet by 444.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,001 shares of the company’s stock valued at $31,000 after acquiring an additional 817 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of Central Garden & Pet by 152.1% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,215 shares of the company’s stock worth $38,000 after purchasing an additional 733 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Central Garden & Pet by 53.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $49,000 after purchasing an additional 517 shares during the period. Finally, EMC Capital Management purchased a new position in shares of Central Garden & Pet in the 2nd quarter valued at about $87,000. 50.82% of the stock is owned by hedge funds and other institutional investors.

About Central Garden & Pet

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.