SunTrust Banks Analysts Boost Earnings Estimates for Central Garden & Pet Co (CENT)

Central Garden & Pet Co (NASDAQ:CENT) – Equities research analysts at SunTrust Banks upped their FY2019 earnings per share (EPS) estimates for Central Garden & Pet in a note issued to investors on Wednesday. SunTrust Banks analyst W. Chappell now anticipates that the company will earn $2.15 per share for the year, up from their previous estimate of $1.92.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. The firm had revenue of $442.01 million during the quarter, compared to analysts’ expectations of $435.19 million. Central Garden & Pet had a net margin of 4.69% and a return on equity of 12.86%. Central Garden & Pet’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share.

A number of other brokerages have also recently issued reports on CENT. Sidoti cut shares of Central Garden & Pet from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. BidaskClub cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, January 30th. CL King started coverage on shares of Central Garden & Pet in a report on Thursday, December 7th. They set a “buy” rating and a $47.00 price target for the company. Finally, KeyCorp restated a “hold” rating on shares of Central Garden & Pet in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.00.

Shares of Central Garden & Pet (NASDAQ:CENT) opened at $37.88 on Monday. The stock has a market cap of $1,963.96, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.00 and a beta of 0.06. Central Garden & Pet has a fifty-two week low of $29.08 and a fifty-two week high of $42.29. The company has a quick ratio of 2.46, a current ratio of 4.42 and a debt-to-equity ratio of 1.04.

Institutional investors and hedge funds have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its position in shares of Central Garden & Pet by 58.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,830 shares of the company’s stock valued at $149,000 after buying an additional 1,420 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Central Garden & Pet by 200.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,968 shares of the company’s stock valued at $154,000 after buying an additional 2,647 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Central Garden & Pet by 104.6% during the third quarter. Envestnet Asset Management Inc. now owns 4,273 shares of the company’s stock valued at $166,000 after buying an additional 2,185 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Central Garden & Pet by 70.3% during the third quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the company’s stock valued at $207,000 after buying an additional 2,204 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in shares of Central Garden & Pet during the fourth quarter valued at about $216,000. 19.91% of the stock is owned by institutional investors and hedge funds.

In other Central Garden & Pet news, CFO Nicholas Lahanas sold 7,119 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $38.78, for a total transaction of $276,074.82. Following the completion of the sale, the chief financial officer now directly owns 27,959 shares in the company, valued at $1,084,250.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brooks Pennington III sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $35.47, for a total transaction of $354,700.00. Following the sale, the director now owns 35,928 shares of the company’s stock, valued at $1,274,366.16. The disclosure for this sale can be found here. Insiders have sold 80,299 shares of company stock valued at $3,028,258 over the last 90 days. Corporate insiders own 12.60% of the company’s stock.

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Central Garden & Pet 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.

Earnings History and Estimates for Central Garden & Pet (NASDAQ:CENT)

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