Central Garden & Pet (NASDAQ:CENTA) Upgraded at Argus

Argus upgraded shares of Central Garden & Pet (NASDAQ:CENTA) to a strong-buy rating in a report published on Tuesday, Zacks.com reports.

Other analysts also recently issued research reports about the stock. Truist Financial upped their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a buy rating in a research report on Monday, May 13th. StockNews.com raised Central Garden & Pet from a hold rating to a buy rating in a report on Friday, May 10th. Monness Crespi & Hardt upped their price objective on Central Garden & Pet from $39.00 to $42.00 and gave the company a buy rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. lifted their target price on Central Garden & Pet from $40.00 to $43.00 and gave the company a neutral rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Central Garden & Pet currently has a consensus rating of Buy and a consensus price target of $41.75.

Central Garden & Pet Price Performance

Shares of NASDAQ CENTA opened at $37.32 on Tuesday. The stock’s 50-day moving average is $36.80 and its two-hundred day moving average is $33.31. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. Central Garden & Pet has a 1-year low of $27.09 and a 1-year high of $41.03. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 16.77 and a beta of 0.70.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.16. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The business had revenue of $900.09 million during the quarter, compared to analysts’ expectations of $895.68 million. Analysts forecast that Central Garden & Pet will post 2.28 EPS for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In related news, CAO Howard Machek sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total value of $400,500.00. Following the completion of the transaction, the chief accounting officer now owns 51,474 shares of the company’s stock, valued at approximately $2,061,533.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total value of $400,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,474 shares in the company, valued at $2,061,533.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John D. Walker III sold 4,218 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $40.31, for a total value of $170,027.58. Following the transaction, the insider now owns 85,063 shares in the company, valued at $3,428,889.53. The disclosure for this sale can be found here. Insiders own 20.28% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its position in shares of Central Garden & Pet by 59.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 9,901 shares of the company’s stock worth $365,000 after buying an additional 3,689 shares during the period. Comerica Bank lifted its position in shares of Central Garden & Pet by 19.3% in the 1st quarter. Comerica Bank now owns 23,305 shares of the company’s stock worth $860,000 after buying an additional 3,767 shares during the last quarter. Jane Street Group LLC lifted its holdings in Central Garden & Pet by 1,704.3% in the first quarter. Jane Street Group LLC now owns 160,420 shares of the company’s stock worth $5,923,000 after acquiring an additional 151,529 shares during the last quarter. California State Teachers Retirement System boosted its position in Central Garden & Pet by 25.4% during the 1st quarter. California State Teachers Retirement System now owns 53,918 shares of the company’s stock valued at $1,991,000 after purchasing an additional 10,910 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Central Garden & Pet by 30.6% during the first quarter. Janus Henderson Group PLC now owns 23,933 shares of the company’s stock valued at $883,000 after acquiring an additional 5,608 shares during the period. 50.82% of the stock is currently owned by institutional investors and hedge funds.

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.