Equities research analysts at CL King initiated coverage on shares of Central Garden & Pet Company (NASDAQ:CENT) in a note issued to investors on Friday. The firm set a “buy” rating and a $38.00 price target on the stock. CL King’s price target would suggest a potential upside of 23.74% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Zacks Investment Research raised shares of Central Garden & Pet Company from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Tuesday, April 25th. Argus started coverage on shares of Central Garden & Pet Company in a research report on Wednesday, April 19th. They set a “buy” rating and a $44.00 price objective for the company. BidaskClub raised shares of Central Garden & Pet Company from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Sidoti raised shares of Central Garden & Pet Company from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Central Garden & Pet Company in a research report on Tuesday, June 20th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Central Garden & Pet Company has an average rating of “Buy” and a consensus target price of $39.50.

Shares of Central Garden & Pet Company (NASDAQ CENT) opened at 30.71 on Friday. The company has a 50-day moving average price of $31.62 and a 200 day moving average price of $34.06. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 25.34 and a beta of 0.12. Central Garden & Pet Company has a one year low of $22.45 and a one year high of $39.33.

Central Garden & Pet Company (NASDAQ:CENT) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. Central Garden & Pet Company had a net margin of 3.27% and a return on equity of 12.72%. The company had revenue of $570 million during the quarter, compared to analysts’ expectations of $572.37 million. During the same period in the prior year, the company earned $0.65 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts forecast that Central Garden & Pet Company will post $1.41 EPS for the current fiscal year.

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In related news, insider Michael A. Reed sold 15,107 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $33.21, for a total value of $501,703.47. Following the completion of the transaction, the insider now owns 142,558 shares of the company’s stock, valued at $4,734,351.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Ranelli sold 3,100 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $29.33, for a total transaction of $90,923.00. Following the completion of the transaction, the director now directly owns 110,668 shares of the company’s stock, valued at approximately $3,245,892.44. The disclosure for this sale can be found here. Insiders sold 82,382 shares of company stock valued at $2,613,603 in the last three months. Company insiders own 11.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of CENT. PNC Financial Services Group Inc. raised its stake in Central Garden & Pet Company by 65.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,140 shares of the company’s stock valued at $153,000 after buying an additional 1,641 shares during the last quarter. Sei Investments Co. raised its stake in Central Garden & Pet Company by 39.4% in the first quarter. Sei Investments Co. now owns 4,253 shares of the company’s stock valued at $158,000 after buying an additional 1,201 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in Central Garden & Pet Company during the first quarter valued at $204,000. Thrivent Financial For Lutherans purchased a new stake in Central Garden & Pet Company during the first quarter valued at $212,000. Finally, Alliancebernstein L.P. purchased a new stake in Central Garden & Pet Company during the first quarter valued at $222,000. 21.23% of the stock is owned by institutional investors.

Central Garden & Pet Company Company Profile

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

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