According to Zacks, “Organic growth, value accretive acquisitions such as that of the pet bedding business, and divestment of non-strategic assets have been aiding Central Garden & Pet’s performance. These initiatives have helped the company to post better-than-expected earnings for the eighth successive quarter, when it reported third-quarter fiscal 2016 results. The company’s top line also surpassed the estimate, thus marking the fifth straight quarter of revenue beat. In fact, the stellar performance in the reported quarter prompted management to raise its earnings outlook for the fiscal year. The company is revamping both its Pet and Garden segments, and also intends to have a balanced approach that encompasses improvement in revenues and profits through operational efficiency as cost reduction. On the flip side, stiff competition and seasonality of garden business remains a concern.”
Several other equities analysts have also recently weighed in on the company. Oppenheimer Holdings Inc. reissued a market perform rating on shares of Central Garden & Pet Co. in a research report on Friday, August 26th. Sidoti began coverage on Central Garden & Pet Co. in a report on Wednesday, August 17th. They issued a neutral rating for the company. Finally, SunTrust Banks Inc. raised Central Garden & Pet Co. from a neutral rating to a buy rating in a report on Thursday, June 16th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $22.50.
Shares of Central Garden & Pet Co. (NASDAQ:CENT) opened at 26.58 on Tuesday. The company has a market cap of $1.35 billion, a P/E ratio of 29.31 and a beta of 0.63. The firm’s 50-day moving average price is $25.43 and its 200 day moving average price is $21.59. Central Garden & Pet Co. has a 52 week low of $11.67 and a 52 week high of $27.89.
Central Garden & Pet Co. (NASDAQ:CENT) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. Central Garden & Pet Co. had a return on equity of 11.04% and a net margin of 2.54%. The business earned $514.54 million during the quarter, compared to analysts’ expectations of $490.85 million. During the same quarter in the previous year, the firm earned $0.38 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts predict that Central Garden & Pet Co. will post $1.17 EPS for the current fiscal year.
In other news, Director Brooks Pennington III sold 4,616 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $22.43, for a total value of $103,536.88. Following the sale, the director now directly owns 69,605 shares in the company, valued at approximately $1,561,240.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman William E. Brown sold 25,800 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $24.58, for a total value of $634,164.00. Following the completion of the sale, the chairman now owns 2,204,393 shares in the company, valued at $54,183,979.94. The disclosure for this sale can be found here. 13.90% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its stake in Central Garden & Pet Co. by 1,864.6% in the second quarter. Citigroup Inc. now owns 4,715 shares of the company’s stock valued at $107,000 after buying an additional 4,475 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Central Garden & Pet Co. by 277.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,443 shares of the company’s stock worth $124,000 after buying an additional 4,000 shares during the period. New York State Teachers Retirement System raised its stake in Central Garden & Pet Co. by 12.2% in the second quarter. New York State Teachers Retirement System now owns 6,442 shares of the company’s stock worth $147,000 after buying an additional 700 shares during the period. American International Group Inc. raised its stake in Central Garden & Pet Co. by 262.5% in the second quarter. American International Group Inc. now owns 7,493 shares of the company’s stock worth $171,000 after buying an additional 5,426 shares during the period. Finally, Nationwide Fund Advisors raised its stake in Central Garden & Pet Co. by 288.0% in the second quarter. Nationwide Fund Advisors now owns 8,149 shares of the company’s stock worth $186,000 after buying an additional 6,049 shares during the period. Institutional investors own 19.03% of the company’s stock.
Central Garden & Pet Co. Company Profile
Central Garden & Pet Company is a marketer and producer of branded products, and distributor of third party products to pet, and lawn and garden supplies industries. The Company’s segments are Pet and Garden. Its Pet segment is engaged in the manufacturing, purchase, sale and delivery of internally and externally produced pet supplies, books and food to independent pet distributors, national and regional retail chains, grocery stores, mass merchants and bookstores.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Central Garden & Pet Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Garden & Pet Co. and related companies with MarketBeat.com's FREE daily email newsletter.