Brokerages Set Central Garden & Pet (NASDAQ:CENT) Target Price at $46.75

Central Garden & Pet (NASDAQ:CENT) has earned a consensus rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $46.75.

A number of brokerages recently weighed in on CENT. Truist Financial decreased their price objective on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Canaccord Genuity Group cut their price objective on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th.

Central Garden & Pet Price Performance

NASDAQ:CENT opened at $41.31 on Friday. The company has a market capitalization of $2.71 billion, a P/E ratio of 25.53 and a beta of 0.81. The business’s 50-day moving average is $37.39 and its 200 day moving average is $38.09. The company has a current ratio of 3.66, a quick ratio of 2.19 and a debt-to-equity ratio of 0.76. Central Garden & Pet has a 12 month low of $32.17 and a 12 month high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings data on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $707.83 million. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, equities research analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Institutional Trading of Central Garden & Pet

A number of institutional investors have recently made changes to their positions in CENT. Franklin Resources Inc. grew its holdings in shares of Central Garden & Pet by 29.0% in the third quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after purchasing an additional 1,016 shares during the period. Barclays PLC lifted 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 worth $1,275,000 after purchasing an additional 11,865 shares in the last quarter. XTX Topco Ltd acquired a new position in Central Garden & Pet during the 3rd quarter worth about $258,000. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Central Garden & Pet by 1.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 148,910 shares of the company’s stock worth $5,431,000 after purchasing an additional 2,450 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its stake 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 buying an additional 395 shares during the period. 16.13% of the stock is owned by institutional investors and hedge funds.

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.