Central Garden & Pet (NASDAQ:CENT) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, BidAskClub reports.
A number of other research analysts have also issued reports on the company. Argus lowered their target price on Central Garden & Pet from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. ValuEngine raised Central Garden & Pet from a “strong sell” rating to a “sell” rating in a report on Monday, April 15th. Finally, TheStreet lowered Central Garden & Pet from a “b” rating to a “c+” rating in a report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.50.
Shares of CENT opened at $27.93 on Thursday. The firm has a market cap of $1.61 billion, a PE ratio of 14.62 and a beta of -0.05. The company has a current ratio of 4.52, a quick ratio of 2.79 and a debt-to-equity ratio of 0.69. Central Garden & Pet has a one year low of $25.07 and a one year high of $45.02.
Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Monday, May 6th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $673.70 million for the quarter, compared to analyst estimates of $647.00 million. Central Garden & Pet had a return on equity of 9.92% and a net margin of 4.19%. Central Garden & Pet’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Sell-side analysts anticipate that Central Garden & Pet will post 1.8 EPS for the current year.
In related news, Director Mary Beth Springer sold 2,325 shares of Central Garden & Pet stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $27.24, for a total value of $63,333.00. Following the transaction, the director now owns 1,260 shares of the company’s stock, valued at approximately $34,322.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider George C. Roeth sold 3,398 shares of Central Garden & Pet stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $25.42, for a total value of $86,377.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,318 shares of company stock worth $245,086. 12.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CENT. Oppenheimer Asset Management Inc. purchased a new position in Central Garden & Pet in the 4th quarter worth about $29,000. Huntington National Bank boosted its position in Central Garden & Pet by 33.6% during the 1st quarter. Huntington National Bank now owns 1,543 shares of the company’s stock worth $39,000 after acquiring an additional 388 shares during the period. Mint Tower Capital Management B.V. acquired a new stake in Central Garden & Pet during the 1st quarter worth about $50,000. One Wealth Advisors LLC acquired a new stake in Central Garden & Pet during the 1st quarter worth about $51,000. Finally, BNP Paribas Arbitrage SA boosted its position in Central Garden & Pet by 611.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,405 shares of the company’s stock worth $61,000 after acquiring an additional 2,067 shares during the period. 22.69% of the stock is currently owned by hedge funds and other institutional investors.
About Central Garden & Pet
Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.
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