Central Garden & Pet (NASDAQ:CENTA) Raised to Strong

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "strong-buy" rating in a note issued to investors on Friday.

Several other brokerages have also issued reports on CENTA. KeyCorp raised their target price on Central Garden & Pet from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday. Truist Financial lowered their target price on Central Garden & Pet from $60.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, April 19th. JPMorgan Chase & Co. lowered their target price on Central Garden & Pet from $41.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 19th. Finally, TheStreet raised Central Garden & Pet from a "c+" rating to a "b" rating in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $45.75.

Shares of NASDAQ CENTA traded down $0.52 during mid-day trading on Friday, hitting $42.50. 341,783 shares of the stock traded hands, compared to its average volume of 180,876. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.47 and a quick ratio of 1.44. Central Garden & Pet has a twelve month low of $33.69 and a twelve month high of $45.93. The company has a market cap of $2.30 billion, a PE ratio of 18.81 and a beta of 0.71. The firm has a 50 day simple moving average of $36.79 and a two-hundred day simple moving average of $37.44.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. Central Garden & Pet had a return on equity of 9.78% and a net margin of 3.70%. The company had revenue of $909.00 million for the quarter, compared to the consensus estimate of $897.54 million. As a group, equities research analysts forecast that Central Garden & Pet will post 2.35 EPS for the current fiscal year.

In other news, insider John D. Walker III sold 1,399 shares of the firm's stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $34.75, for a total value of $48,615.25. Following the completion of the sale, the insider now directly owns 81,394 shares in the company, valued at approximately $2,828,441.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 20.28% of the company's stock.

Large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in Central Garden & Pet during the 2nd quarter valued at about $42,000. Assetmark Inc. boosted its stake in Central Garden & Pet by 31.0% during the 1st quarter. Assetmark Inc. now owns 2,731 shares of the company's stock valued at $107,000 after purchasing an additional 646 shares during the last quarter. Rebalance LLC acquired a new position in Central Garden & Pet during the 4th quarter valued at about $107,000. Northwestern Mutual Wealth Management Co. acquired a new position in Central Garden & Pet during the 4th quarter valued at about $118,000. Finally, KBC Group NV boosted its stake in Central Garden & Pet by 65.4% during the 1st quarter. KBC Group NV now owns 4,173 shares of the company's stock valued at $163,000 after purchasing an additional 1,650 shares during the last quarter. 69.33% of the stock is currently owned by institutional investors and hedge funds.

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 grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for equine and livestock, as well as outdoor cushions.

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