Central Garden & Pet (NASDAQ:CENT) Downgraded to Hold Rating by Argus

Argus lowered shares of Central Garden & Pet (NASDAQ:CENT) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

CENT has been the subject of several other reports. Canaccord Genuity Group lowered their price objective on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Truist Financial lowered their target price on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Stock Performance

Shares of NASDAQ CENT opened at $35.80 on Tuesday. Central Garden & Pet has a 52 week low of $32.17 and a 52 week high of $47.48. The stock has a market capitalization of $2.35 billion, a PE ratio of 22.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The stock has a 50 day moving average price of $38.66 and a 200 day moving average price of $37.94.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The business had revenue of $669.49 million during the quarter, compared to the consensus estimate of $707.83 million. The business’s revenue was down 10.8% compared to the same quarter last year. Analysts predict that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CENT. Versant Capital Management Inc raised its holdings in shares of Central Garden & Pet by 693.6% in the fourth quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock valued at $48,000 after purchasing an additional 1,089 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Central Garden & Pet by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company’s stock valued at $1,285,000 after acquiring an additional 14,964 shares during the period. Franklin Resources Inc. increased its position in Central Garden & Pet by 29.0% in the third quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock worth $157,000 after buying an additional 1,016 shares during the last quarter. Barclays PLC grew its stake in Central Garden & Pet by 51.4% during the third quarter. Barclays PLC now owns 34,944 shares of the company’s stock valued at $1,275,000 after acquiring an additional 11,865 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Central Garden & Pet in the 3rd quarter valued at $258,000. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Company Profile

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.