Central Garden & Pet (NASDAQ:CENT) Given New $45.00 Price Target at Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENT) had its target price cut by Canaccord Genuity Group from $48.00 to $45.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Truist Financial lowered their price objective on shares of 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. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $46.75.

Central Garden & Pet Trading Up 2.6 %

NASDAQ CENT opened at $39.83 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The stock’s 50-day moving average is $35.79 and its 200-day moving average is $38.64. Central Garden & Pet has a one year low of $31.31 and a one year high of $47.48. The firm has a market cap of $2.69 billion, a P/E ratio of 18.37 and a beta of 0.75.

Insiders Place Their Bets

In other news, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction 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 sale, the chairman now owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The trade was a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of Central Garden & Pet by 51.4% during the 3rd quarter. Barclays PLC now owns 34,944 shares of the company’s stock worth $1,275,000 after buying an additional 11,865 shares during the last quarter. XTX Topco Ltd bought a new stake in Central Garden & Pet during the third quarter worth about $258,000. Hotchkis & Wiley Capital Management LLC boosted its position in 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 valued at $5,431,000 after purchasing an additional 2,450 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after purchasing an additional 395 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Central Garden & Pet by 5.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,060 shares of the company’s stock worth $330,000 after purchasing an additional 464 shares during the last quarter. Institutional investors own 16.13% 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.