A number of firms have modified their ratings and price targets on shares of Central Garden & Pet (NASDAQ: CENT) recently:

  • 8/4/2017 – Central Garden & Pet was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Central Garden & Pet outpaced the industry in the past one year, primarily owing to 12 consecutive quarters of earnings beat. Moreover, the company’s top-line has also surpassed our estimate for the third straight quarter, when it posted third-quarter fiscal 2017 results. We note that both the top and bottom lines grew 11.7% and 21.6%, respectively.  Robust financial numbers prompted management to provide an upbeat adjusted earnings per share projection for the fiscal year. Organic growth, value accretive acquisitions and divestment of non-strategic assets have been aiding Central Garden & Pet’s performance. Moreover, the company is revamping both its Pet and Garden segments, and intends to possess a balanced approach that encompasses improvement in revenues and profits through operational efficiency as well as cost reduction. However, stiff competition and seasonality of garden business remains a concern.”
  • 8/3/2017 – Central Garden & Pet had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 8/1/2017 – Central Garden & Pet was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/24/2017 – Central Garden & Pet was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/20/2017 – Central Garden & Pet was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Central Garden & Pet has exhibited a bearish run and underperformed the industry in the past three months. Stiff competition, seasonality of garden business and cautious approach by customers toward discretionary spending remains a concern, as the same may hurt the company’s performance further. In an effort to deliver sustainable growth, the company is increasing investment. However, costs related to initiatives may hurt 2017 net income. On the other hand, Organic growth, value accretive acquisitions such as that of the pet bedding business and Segrest, and divestment of non-strategic assets have been aiding the company’s performance. Moreover, management is revamping both Pet and Garden segments, and intends to possess a balanced approach that encompasses improvement in revenues and profits through operational efficiency as well as cost reduction.”
  • 7/7/2017 – Central Garden & Pet is now covered by analysts at CL King. They set a “buy” rating and a $38.00 price target on the stock.
  • 6/20/2017 – Central Garden & Pet had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 6/19/2017 – Central Garden & Pet was upgraded by analysts at Sidoti from a “neutral” rating to a “buy” rating.
  • 6/10/2017 – Central Garden & Pet was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Central Garden & Pet Company (NASDAQ CENT) traded up 0.42% on Monday, reaching $35.48. The company had a trading volume of 17,284 shares. Central Garden & Pet Company has a 52-week low of $22.97 and a 52-week high of $39.33. The stock has a market capitalization of $1.84 billion, a PE ratio of 26.76 and a beta of 0.12. The stock has a 50 day moving average price of $32.02 and a 200 day moving average price of $33.93.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.11. Central Garden & Pet had a net margin of 3.49% and a return on equity of 13.66%. The firm had revenue of $574.59 million during the quarter, compared to the consensus estimate of $544.26 million. During the same period in the prior year, the firm earned $0.48 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Analysts expect that Central Garden & Pet Company will post $1.48 EPS for the current year.

In other Central Garden & Pet news, insider Michael A. Reed sold 15,107 shares of the stock in a transaction on 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 sale, the insider now directly owns 142,558 shares of the company’s stock, valued at approximately $4,734,351.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Ranelli sold 15,000 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $35.09, for a total transaction of $526,350.00. Following the completion of the sale, the director now directly owns 47,489 shares of the company’s stock, valued at $1,666,389.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,382 shares of company stock valued at $2,613,603. Insiders own 11.60% of the company’s stock.

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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