Central Garden & Pet (NASDAQ:CENTA) Stock Rating Upgraded by StockNews.com

Central Garden & Pet (NASDAQ:CENTA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other brokerages also recently weighed in on CENTA. Argus downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Central Garden & Pet currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Central Garden & Pet Stock Down 3.9 %

CENTA stock opened at $32.86 on Thursday. The company has a market capitalization of $2.16 billion, a P/E ratio of 20.31 and a beta of 0.76. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03. The firm’s fifty day simple moving average is $32.62 and its 200-day simple moving average is $32.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. As a group, equities research analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current year.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds have recently made changes to their positions in CENTA. Empowered Funds LLC acquired a new stake in Central Garden & Pet in the 3rd quarter valued at about $7,621,000. Barclays PLC increased its holdings in shares of Central Garden & Pet by 161.7% in the third quarter. Barclays PLC now owns 122,530 shares of the company’s stock valued at $3,849,000 after purchasing an additional 75,718 shares during the last quarter. State Street Corp lifted its position in Central Garden & Pet by 3.3% during the third quarter. State Street Corp now owns 2,175,277 shares of the company’s stock worth $68,304,000 after buying an additional 68,689 shares in the last quarter. Millennium Management LLC boosted its stake in Central Garden & Pet by 34.3% during the second quarter. Millennium Management LLC now owns 255,160 shares of the company’s stock worth $8,428,000 after buying an additional 65,213 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Central Garden & Pet by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 832,512 shares of the company’s stock valued at $27,515,000 after buying an additional 59,489 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

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.