Central Garden & Pet (NASDAQ:CENT) Receives $47.50 Average Price Target from Brokerages

Central Garden & Pet (NASDAQ:CENT) has received a consensus rating of “Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $47.50.

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $48.00 target price on shares of Central Garden & Pet in a research report on Monday, September 30th. Truist Financial lowered their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th.

Central Garden & Pet Stock Performance

Shares of CENT opened at $38.70 on Tuesday. The stock has a 50 day moving average of $35.78 and a 200 day moving average of $38.71. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 17.83 and a beta of 0.75. Central Garden & Pet has a 12 month low of $31.31 and a 12 month high of $47.48. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75.

Insider Transactions at Central Garden & Pet

In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the transaction, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The trade was a 5.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Central Garden & Pet

Large investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA lifted its holdings in Central Garden & Pet by 23.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after purchasing an additional 395 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Central Garden & Pet by 5.4% during the third quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock valued at $330,000 after acquiring an additional 464 shares in the last quarter. Inspire Investing LLC increased its holdings in Central Garden & Pet by 10.3% during the 2nd quarter. Inspire Investing LLC now owns 9,247 shares of the company’s stock worth $356,000 after acquiring an additional 861 shares during the period. Public Sector Pension Investment Board boosted its holdings in Central Garden & Pet by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock valued at $808,000 after purchasing an additional 1,200 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Central Garden & Pet during the 2nd quarter valued at $51,000. 16.13% of the stock is owned by institutional investors.

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.