BidaskClub Downgrades Central Garden & Pet (CENT) to Strong Sell

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BidaskClub downgraded shares of Central Garden & Pet (NASDAQ:CENT) from a sell rating to a strong sell rating in a research note published on Saturday morning.

CENT has been the topic of a number of other research reports. TheStreet cut shares of Central Garden & Pet from a b rating to a c+ rating in a research note on Wednesday, February 27th. ValuEngine raised shares of Central Garden & Pet from a hold rating to a buy rating in a research note on Tuesday, January 22nd. Finally, Argus dropped their price target on shares of Central Garden & Pet from $40.00 to $36.00 and set a buy rating on the stock in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Central Garden & Pet presently has an average rating of Hold and an average price target of $43.00.

Shares of NASDAQ CENT opened at $29.25 on Friday. The company has a market cap of $1.69 billion, a PE ratio of 15.31 and a beta of -0.03. Central Garden & Pet has a 12 month low of $28.91 and a 12 month high of $45.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.12 and a current ratio of 5.10.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Wednesday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). The firm had revenue of $462.00 million for the quarter, compared to analyst estimates of $487.52 million. Central Garden & Pet had a return on equity of 11.19% and a net margin of 4.44%. Central Garden & Pet’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. As a group, analysts forecast that Central Garden & Pet will post 1.8 EPS for the current fiscal year.

In related news, Director Brooks Pennington III sold 1,944 shares of Central Garden & Pet stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $34.70, for a total value of $67,456.80. Following the sale, the director now owns 41,305 shares of the company’s stock, valued at approximately $1,433,283.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.35% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Central Garden & Pet by 308.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,537,598 shares of the company’s stock valued at $187,466,000 after purchasing an additional 4,180,716 shares in the last quarter. BlackRock Inc. lifted its holdings in Central Garden & Pet by 0.6% in the 4th quarter. BlackRock Inc. now owns 1,607,791 shares of the company’s stock valued at $55,389,000 after purchasing an additional 9,027 shares in the last quarter. Vanguard Group Inc lifted its holdings in Central Garden & Pet by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 1,361,523 shares of the company’s stock valued at $49,070,000 after purchasing an additional 4,641 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Central Garden & Pet by 19.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,100,725 shares of the company’s stock valued at $39,671,000 after purchasing an additional 180,781 shares in the last quarter. Finally, FMR LLC lifted its holdings in Central Garden & Pet by 0.5% in the 4th quarter. FMR LLC now owns 968,821 shares of the company’s stock valued at $33,376,000 after purchasing an additional 4,930 shares in the last quarter. Institutional investors own 21.85% of the company’s stock.

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

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