Central Garden & Pet (NASDAQ:CENTA) Price Target Cut to $34.00 by Analysts at JPMorgan Chase & Co.

Central Garden & Pet (NASDAQ:CENTA) had its price objective cut by JPMorgan Chase & Co. from $38.00 to $34.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Monness Crespi & Hardt boosted their price objective on shares of Central Garden & Pet from $39.00 to $42.00 and gave the company a buy rating in a research report on Thursday, May 9th. Truist Financial boosted their price objective 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 lowered shares of Central Garden & Pet from a buy rating to a hold rating in a research report on Monday, July 1st. Canaccord Genuity Group raised shares of Central Garden & Pet to a strong-buy rating in a report on Monday, July 1st. Finally, Argus raised Central Garden & Pet to a strong-buy rating in a research report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Central Garden & Pet has a consensus rating of Buy and a consensus price target of $42.00.

Central Garden & Pet Stock Down 3.0 %

NASDAQ:CENTA opened at $33.54 on Thursday. The firm has a 50-day simple moving average of $33.68 and a two-hundred day simple moving average of $35.44. The firm has a market cap of $2.26 billion, a P/E ratio of 15.04 and a beta of 0.75. Central Garden & Pet has a fifty-two week low of $27.88 and a fifty-two week high of $41.03. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 3.33.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The business had revenue of $996.35 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $1.40 EPS. Analysts predict that Central Garden & Pet will post 2.23 earnings per share for the current fiscal year.

Insider Activity

In other Central Garden & Pet news, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 51,474 shares in the company, valued at approximately $2,061,533.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider John D. Walker III sold 4,218 shares of Central Garden & Pet 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 completion of the transaction, the insider now owns 85,063 shares in the company, valued at approximately $3,428,889.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,061,533.70. The disclosure for this sale can be found here. Insiders sold a total of 714,218 shares of company stock valued at $25,945,528 in the last quarter. 20.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in shares of Central Garden & Pet by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock valued at $120,682,000 after acquiring an additional 29,780 shares during the period. Federated Hermes Inc. acquired a new position in Central Garden & Pet during the second quarter worth $26,000. GHP Investment Advisors Inc. grew its stake in shares of Central Garden & Pet by 1.4% in the second quarter. GHP Investment Advisors Inc. now owns 89,423 shares of the company’s stock valued at $2,954,000 after buying an additional 1,245 shares in the last quarter. BOKF NA purchased a new stake in shares of Central Garden & Pet in the 2nd quarter valued at $246,000. Finally, American Century Companies Inc. boosted its holdings in Central Garden & Pet by 43.0% during the 2nd quarter. American Century Companies Inc. now owns 941,509 shares of the company’s stock valued at $31,098,000 after acquiring an additional 283,045 shares during the period. Hedge funds and other institutional investors own 50.82% 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.