Analysts Set Central Garden & Pet (NASDAQ:CENT) Target Price at $46.75

Shares of Central Garden & Pet (NASDAQ:CENT) have earned an average recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $46.75.

Several brokerages have weighed in on CENT. Argus downgraded Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Canaccord Genuity Group lowered their target price on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, November 26th.

Insider Buying and Selling at Central Garden & Pet

In related 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 directly owns 67,111 shares of the company’s stock, valued at approximately $2,205,267.46. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Central Garden & Pet

A number of hedge funds have recently made changes to their positions in CENT. GSA Capital Partners LLP purchased a new stake in Central Garden & Pet during the 3rd quarter worth $272,000. Empowered Funds LLC acquired a new position in Central Garden & Pet during the 3rd quarter worth $1,681,000. Quest Partners LLC acquired a new stake in shares of Central Garden & Pet in the 3rd quarter valued at about $797,000. Charles Schwab Investment Management Inc. lifted its position in shares of Central Garden & Pet by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 112,305 shares of the company’s stock worth $4,096,000 after purchasing an additional 11,671 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Central Garden & Pet by 5.4% in the third quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock valued at $330,000 after buying an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Price Performance

CENT stock opened at $34.92 on Thursday. Central Garden & Pet has a 1 year low of $32.17 and a 1 year high of $47.48. The firm has a market cap of $2.29 billion, a P/E ratio of 19.19 and a beta of 0.79. The stock’s 50 day moving average price is $37.24 and its 200 day moving average price is $37.44. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. On average, sell-side analysts expect that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

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.