JPMorgan Chase & Co. Issues Pessimistic Forecast for Central Garden & Pet (NASDAQ:CENTA) Stock Price

Central Garden & Pet (NASDAQ:CENTA) had its price target reduced by JPMorgan Chase & Co. from $34.00 to $31.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 2.27% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CENTA. Argus cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. StockNews.com raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Central Garden & Pet Trading Up 1.2 %

CENTA opened at $31.72 on Friday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 17.43 and a beta of 0.75. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03. The firm’s fifty day simple moving average is $32.03 and its 200 day simple moving average is $31.81.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. As a group, research analysts anticipate that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Activity

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the transaction, the insider now owns 67,111 shares of the company’s stock, valued at $2,205,267.46. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.28% of the stock is currently owned by insiders.

Institutional Trading of Central Garden & Pet

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its stake in shares of Central Garden & Pet by 668.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 930 shares of the company’s stock worth $31,000 after buying an additional 809 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Central Garden & Pet during the fourth quarter worth approximately $102,000. KBC Group NV grew its position in shares of Central Garden & Pet by 50.1% in the fourth quarter. KBC Group NV now owns 3,606 shares of the company’s stock valued at $119,000 after purchasing an additional 1,204 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Central Garden & Pet by 6.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company’s stock worth $180,000 after purchasing an additional 325 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Central Garden & Pet by 12.6% during the fourth quarter. Bank of Montreal Can now owns 6,538 shares of the company’s stock worth $216,000 after purchasing an additional 734 shares during the period. 50.82% of the stock is owned by institutional investors and hedge funds.

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.