Central Garden & Pet (NASDAQ:CENTA) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a hold rating to a buy rating in a research report released on Thursday morning.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Argus downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.00.

Central Garden & Pet Price Performance

Shares of CENTA stock opened at $34.19 on Thursday. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $41.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The firm has a market capitalization of $2.24 billion, a P/E ratio of 21.13 and a beta of 0.76. The stock has a 50 day moving average price of $32.64 and a 200 day moving average price of $32.29.

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

Institutional Trading of Central Garden & Pet

A number of institutional investors have recently made changes to their positions in the business. Keybank National Association OH lifted its position in Central Garden & Pet by 2.7% during the 4th quarter. Keybank National Association OH now owns 17,640 shares of the company’s stock worth $583,000 after acquiring an additional 468 shares during the period. Rhumbline Advisers lifted its position in Central Garden & Pet by 0.4% during the 4th quarter. Rhumbline Advisers now owns 160,457 shares of the company’s stock worth $5,303,000 after acquiring an additional 678 shares during the period. KBC Group NV lifted its position in Central Garden & Pet by 43.8% during the 3rd quarter. KBC Group NV now owns 2,402 shares of the company’s stock worth $75,000 after acquiring an additional 732 shares during the period. Smartleaf Asset Management LLC lifted its position in Central Garden & Pet by 668.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 930 shares of the company’s stock worth $31,000 after acquiring an additional 809 shares during the period. Finally, CWM LLC lifted its position in Central Garden & Pet by 72.6% during the 3rd quarter. CWM LLC now owns 1,957 shares of the company’s stock worth $61,000 after acquiring an additional 823 shares during the period. Institutional investors and hedge funds own 50.82% 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.