Central Garden & Pet (CENTA) PT Lowered to $42.00

Central Garden & Pet (NASDAQ:CENTA) had its price objective lowered by equities researchers at BMO Capital Markets to $42.00 in a report released on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 39.67% from the stock’s current price.

Several other research firms also recently commented on CENTA. Bank of America started coverage on shares of Central Garden & Pet in a report on Monday, September 10th. They issued a “buy” rating and a $44.00 price objective on the stock. ValuEngine downgraded shares of Central Garden & Pet from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, KeyCorp started coverage on shares of Central Garden & Pet in a report on Thursday, October 11th. They set an “overweight” rating and a $39.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $43.00.

NASDAQ:CENTA opened at $30.07 on Wednesday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.33 and a beta of 0.25. Central Garden & Pet has a twelve month low of $27.14 and a twelve month high of $41.97. The company has a current ratio of 5.72, a quick ratio of 2.57 and a debt-to-equity ratio of 0.73.

Central Garden & Pet (NASDAQ:CENTA) last released its earnings results on Tuesday, November 27th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $502.31 million for the quarter, compared to the consensus estimate of $499.89 million. Central Garden & Pet had a net margin of 5.58% and a return on equity of 13.33%. During the same quarter in the previous year, the firm earned $0.08 EPS. On average, equities research analysts expect that Central Garden & Pet will post 1.81 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Central Garden & Pet by 114.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,781 shares of the company’s stock valued at $125,000 after purchasing an additional 2,015 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Central Garden & Pet in the second quarter valued at about $168,000. NumerixS Investment Technologies Inc grew its holdings in shares of Central Garden & Pet by 214.3% in the second quarter. NumerixS Investment Technologies Inc now owns 4,400 shares of the company’s stock valued at $176,000 after purchasing an additional 3,000 shares during the period. AMP Capital Investors Ltd purchased a new stake in shares of Central Garden & Pet in the second quarter valued at about $222,000. Finally, Amalgamated Bank purchased a new stake in shares of Central Garden & Pet in the second quarter valued at about $230,000. 65.97% of the stock is currently owned by hedge funds and other institutional investors.

About Central Garden & Pet

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 comprising edible bones, edible and non-edible chews, rawhide, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and food, cages and habitats, toys, chews, and related accessories for birds, small animals, and specialty pets.

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