Central Garden & Pet (NASDAQ:CENT) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Central Garden & Pet (NASDAQ:CENT) in a report issued on Monday, Benzinga reports. Canaccord Genuity Group currently has a $48.00 price target on the stock.

Separately, Canaccord Genuity Group upgraded Central Garden & Pet to a strong-buy rating in a report on Monday, July 1st. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $52.50.

Central Garden & Pet Price Performance

Shares of CENT stock opened at $34.82 on Monday. The company has a market capitalization of $2.35 billion, a P/E ratio of 15.61 and a beta of 0.75. The company’s 50-day simple moving average is $38.45 and its two-hundred day simple moving average is $40.27. Central Garden & Pet has a one year low of $30.75 and a one year high of $47.48. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.11. The company had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. Central Garden & Pet’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 earnings per share. As a group, equities analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In other news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the transaction, the director now directly owns 40,743 shares of the company’s stock, valued at approximately $1,336,370.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $34.28, for a total transaction of $85,700.00. Following the completion of the transaction, the director now owns 822 shares in the company, valued at approximately $28,178.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the sale, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,986 shares of company stock valued at $2,146,841. 9.53% of the stock is currently owned by corporate insiders.

Institutional Trading of Central Garden & Pet

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new position in Central Garden & Pet during the 2nd quarter valued at about $51,000. Point72 Asset Management L.P. purchased a new position in shares of Central Garden & Pet in the 2nd quarter valued at approximately $113,000. EntryPoint Capital LLC boosted its stake in Central Garden & Pet by 909.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after purchasing an additional 3,846 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Central Garden & Pet during the 2nd quarter worth approximately $187,000. Finally, Hsbc Holdings PLC acquired a new position in Central Garden & Pet during the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 16.13% 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.