Central Garden & Pet (CENT) Lowered to Sell at ValuEngine

Central Garden & Pet (NASDAQ:CENT) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

CENT has been the subject of several other reports. BidaskClub lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. BMO Capital Markets started coverage on shares of Central Garden & Pet in a report on Monday, August 13th. They issued a “buy” rating and a $45.00 target price for the company. Zacks Investment Research lowered shares of Central Garden & Pet from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 7th. JPMorgan Chase & Co. started coverage on shares of Central Garden & Pet in a report on Tuesday. They issued a “neutral” rating and a $37.00 target price for the company. Finally, Bank of America started coverage on shares of Central Garden & Pet in a report on Monday, September 10th. They issued a “buy” rating and a $44.00 target price for the company. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $44.57.

Shares of NASDAQ:CENT traded down $0.40 during trading on Thursday, hitting $36.45. The company’s stock had a trading volume of 114,400 shares, compared to its average volume of 126,491. Central Garden & Pet has a 12 month low of $34.81 and a 12 month high of $45.02. The company has a quick ratio of 2.57, a current ratio of 4.42 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $1.95 billion, a PE ratio of 24.30 and a beta of -0.15.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.01). Central Garden & Pet had a return on equity of 14.69% and a net margin of 5.32%. The business had revenue of $657.90 million during the quarter, compared to the consensus estimate of $607.34 million. During the same quarter last year, the company earned $0.62 EPS. Central Garden & Pet’s revenue for the quarter was up 14.5% on a year-over-year basis. analysts expect that Central Garden & Pet will post 1.9 earnings per share for the current fiscal year.

In related news, Director Brooks Pennington III sold 1,977 shares of the stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $36.30, for a total value of $71,765.10. Following the completion of the sale, the director now directly owns 40,851 shares of the company’s stock, valued at approximately $1,482,891.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CENT. FMR LLC grew its holdings in Central Garden & Pet by 107.9% during the 2nd quarter. FMR LLC now owns 984,953 shares of the company’s stock valued at $42,826,000 after buying an additional 511,229 shares in the last quarter. Earnest Partners LLC purchased a new stake in Central Garden & Pet during the 2nd quarter valued at approximately $7,687,000. WINTON GROUP Ltd purchased a new stake in Central Garden & Pet during the 1st quarter valued at approximately $6,921,000. Bank of America Corp DE grew its holdings in Central Garden & Pet by 219.1% during the 2nd quarter. Bank of America Corp DE now owns 185,774 shares of the company’s stock valued at $8,077,000 after buying an additional 127,564 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Central Garden & Pet by 5.5% during the 2nd quarter. BlackRock Inc. now owns 1,572,845 shares of the company’s stock valued at $68,389,000 after buying an additional 82,497 shares in the last quarter. 23.49% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Company Profile

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 comprising edible bones, edible and non-edible chews, rawhide, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and food, cages and habitats, toys, chews, and related accessories for birds, small animals, and specialty pets.

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Analyst Recommendations for Central Garden & Pet (NASDAQ:CENT)

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