Zacks Investment Research downgraded shares of Central Garden & Pet (NASDAQ:CENTA) from a strong-buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.
According to Zacks, “Central Garden & Pet Company is a leading innovator, marketer and producer of quality branded products for the lawn & garden and pet supplies markets. Committed to new product innovation, their products are sold to specialty independent and mass retailers. Participating categories in Lawn & Garden include: Grass seed and the brands PENNINGTON, and THE REBELS; wild bird feed and the brand PENNINGTON; weed and insect control and the brands AMDRO, SEVIN, IRONITE and OVER-N-OUT; and decorative outdoor patio products under the PENNINGTON brand. Participating categories in Pet include: Animal health and the brands ADAMS and ZODIAC; aquatics and reptile and the brands AQUEON, CORALIFE, SEGREST and ZILLA; bird & small animal and the brands KAYTEE, Forti-Diet and CRITTER TRAIL; dog & cat and the brands TFH, NYLABONE, FOUR PAWS, IMS, CADET, DMC, K&H Pet Products, PINNACLE and AVODERM; and equine and the brands FARNAM, HORSE HEALTH and VITAFLEX. “
Several other equities analysts also recently weighed in on the company. Monness Crespi & Hardt boosted their target price on Central Garden & Pet from $36.00 to $42.00 and gave the company a buy rating in a research report on Thursday, August 6th. KeyCorp boosted their target price on Central Garden & Pet from $38.00 to $40.00 and gave the company an overweight rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $39.00.
NASDAQ:CENTA opened at $37.00 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.81 and a quick ratio of 2.70. Central Garden & Pet has a 1 year low of $21.66 and a 1 year high of $41.10. The stock’s 50 day simple moving average is $36.44 and its two-hundred day simple moving average is $33.09. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 18.41 and a beta of 0.76.
Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.51. The business had revenue of $833.48 million for the quarter, compared to the consensus estimate of $727.68 million. Central Garden & Pet had a return on equity of 11.16% and a net margin of 4.28%. As a group, analysts anticipate that Central Garden & Pet will post 1.95 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in Central Garden & Pet by 20.8% in the 2nd quarter. Principal Financial Group Inc. now owns 931,673 shares of the company’s stock valued at $31,482,000 after acquiring an additional 160,223 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Central Garden & Pet by 11.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,811 shares of the company’s stock worth $298,000 after buying an additional 881 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Central Garden & Pet by 7.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 228,220 shares of the company’s stock worth $7,712,000 after buying an additional 14,835 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Central Garden & Pet by 8.5% in the 2nd quarter. AQR Capital Management LLC now owns 40,594 shares of the company’s stock worth $1,372,000 after buying an additional 3,194 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in shares of Central Garden & Pet in the 2nd quarter worth $255,000. 66.14% of the stock is currently owned by institutional investors.
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, 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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