Central Garden & Pet (NASDAQ:CENT) Price Target Cut to $45.00 by Analysts at Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENT) had its price objective decreased by Canaccord Genuity Group from $48.00 to $45.00 in a research note released on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, Truist Financial reduced their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Stock Performance

Shares of CENT stock opened at $40.16 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The company’s fifty day moving average price is $35.87 and its two-hundred day moving average price is $38.60. The firm has a market capitalization of $2.71 billion, a P/E ratio of 24.79 and a beta of 0.75. Central Garden & Pet has a 12 month low of $31.31 and a 12 month high of $47.48.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds have recently bought and sold shares of CENT. Allspring Global Investments Holdings LLC raised its stake in Central Garden & Pet by 0.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 893,226 shares of the company’s stock valued at $32,576,000 after buying an additional 7,893 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Central Garden & Pet by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock valued at $29,926,000 after acquiring an additional 5,571 shares in the last quarter. American Century Companies Inc. boosted its holdings in Central Garden & Pet by 24.5% in the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after purchasing an additional 32,009 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in Central Garden & Pet by 1.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 148,910 shares of the company’s stock valued at $5,431,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Central Garden & Pet by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 112,305 shares of the company’s stock worth $4,096,000 after purchasing an additional 11,671 shares during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

About Central Garden & Pet

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 containment, grooming products, waste management, and training pads; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.