FY2023 EPS Estimates for Central Garden & Pet Lifted by Analyst (NASDAQ:CENTA)

Central Garden & Pet (NASDAQ:CENTA - Free Report) - Research analysts at KeyCorp raised their FY2023 EPS estimates for shares of Central Garden & Pet in a note issued to investors on Wednesday, August 2nd. KeyCorp analyst B. Thomas now anticipates that the company will post earnings per share of $2.56 for the year, up from their prior forecast of $2.35. KeyCorp currently has a "Overweight" rating and a $50.00 price objective on the stock. The consensus estimate for Central Garden & Pet's current full-year earnings is $2.35 per share. KeyCorp also issued estimates for Central Garden & Pet's FY2024 earnings at $2.82 EPS.

Several other research firms have also recently commented on CENTA. StockNews.com began coverage on shares of Central Garden & Pet in a research note on Thursday, May 18th. They set a "hold" rating on the stock. TheStreet raised shares of Central Garden & Pet from a "c+" rating to a "b" rating in a research note on Thursday, May 4th. Truist Financial decreased their price target on shares of Central Garden & Pet from $60.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, April 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Central Garden & Pet from $41.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.75.

Read Our Latest Research Report on CENTA

NASDAQ:CENTA traded up $0.06 during mid-day trading on Friday, hitting $43.08. The company's stock had a trading volume of 23,209 shares, compared to its average volume of 178,630. Central Garden & Pet has a fifty-two week low of $33.69 and a fifty-two week high of $45.93. The company has a current ratio of 3.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.04 and a beta of 0.71. The stock has a fifty day moving average of $36.63 and a 200-day moving average of $37.41.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.90 EPS for the quarter, meeting analysts' consensus estimates of $0.90. Central Garden & Pet had a net margin of 3.70% and a return on equity of 9.78%. The business had revenue of $909.00 million during the quarter, compared to analyst estimates of $897.54 million.

In related news, insider John D. Walker III sold 1,399 shares of the company's stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $34.75, for a total transaction of $48,615.25. Following the completion of the transaction, the insider now directly owns 81,394 shares in the company, valued at approximately $2,828,441.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 20.28% of the company's stock.

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its holdings in Central Garden & Pet by 2.9% during the second quarter. Barclays PLC now owns 45,123 shares of the company's stock worth $1,647,000 after buying an additional 1,265 shares during the last quarter. Bank of Montreal Can acquired a new position in Central Garden & Pet during the second quarter worth $187,000. State of New Jersey Common Pension Fund D raised its holdings in shares of Central Garden & Pet by 13.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 69,747 shares of the company's stock valued at $2,543,000 after purchasing an additional 8,465 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Central Garden & Pet by 6.6% in the second quarter. Keybank National Association OH now owns 17,168 shares of the company's stock valued at $626,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of Central Garden & Pet in the second quarter valued at about $360,000. Institutional investors and hedge funds own 69.33% of the company's stock.

Central Garden & Pet Company produces and distributes various 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 provides dog and cat supplies, such as dog treats and chews, toys, pet beds and grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for equine and livestock, as well as outdoor cushions.

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