Research Analysts Set Expectations for Central Garden & Pet Co’s FY2018 Earnings (CENT)

Central Garden & Pet Co (NASDAQ:CENT) – Investment analysts at SunTrust Banks raised their FY2018 earnings per share estimates for shares of Central Garden & Pet in a research report issued to clients and investors on Monday. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings per share of $2.01 for the year, up from their prior forecast of $1.68.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Tuesday, November 28th. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). The business had revenue of $490.46 million during the quarter, compared to analysts’ expectations of $439.07 million. Central Garden & Pet had a net margin of 3.84% and a return on equity of 12.81%. Central Garden & Pet’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS.

Other equities research analysts also recently issued research reports about the company. KeyCorp reaffirmed a “hold” rating on shares of Central Garden & Pet in a research report on Monday, October 16th. Sidoti downgraded Central Garden & Pet from a “buy” rating to a “neutral” rating in a research report on Monday, October 16th. Oppenheimer reaffirmed a “hold” rating on shares of Central Garden & Pet in a research report on Wednesday, November 29th. CL King initiated coverage on Central Garden & Pet in a research report on Thursday, December 7th. They issued a “buy” rating and a $47.00 price objective for the company. Finally, BidaskClub cut Central Garden & Pet from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $44.00.

Shares of Central Garden & Pet (NASDAQ:CENT) traded down $0.34 during trading hours on Wednesday, hitting $36.61. The stock had a trading volume of 118,256 shares, compared to its average volume of 122,500. The stock has a market capitalization of $1,850.00, a P/E ratio of 24.09, a P/E/G ratio of 2.22 and a beta of 0.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.37 and a current ratio of 3.10. Central Garden & Pet has a twelve month low of $29.08 and a twelve month high of $42.29.

A number of institutional investors have recently modified their holdings of the stock. Suntrust Banks Inc. boosted its holdings in Central Garden & Pet by 1.3% in the second quarter. Suntrust Banks Inc. now owns 10,721 shares of the company’s stock valued at $339,000 after acquiring an additional 137 shares during the last quarter. Sei Investments Co. boosted its holdings in Central Garden & Pet by 8.9% in the second quarter. Sei Investments Co. now owns 4,633 shares of the company’s stock valued at $148,000 after acquiring an additional 380 shares during the last quarter. ETRADE Capital Management LLC boosted its holdings in Central Garden & Pet by 2.3% in the second quarter. ETRADE Capital Management LLC now owns 20,354 shares of the company’s stock valued at $647,000 after acquiring an additional 466 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Central Garden & Pet by 20.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,136 shares of the company’s stock valued at $100,000 after acquiring an additional 537 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Central Garden & Pet by 3.4% in the second quarter. Goldman Sachs Group Inc. now owns 19,939 shares of the company’s stock valued at $634,000 after acquiring an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 20.02% of the company’s stock.

In related news, Director Brooks Pennington III sold 10,000 shares of Central Garden & Pet stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $35.47, for a total value of $354,700.00. Following the transaction, the director now owns 35,928 shares in the company, valued at $1,274,366.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Ranelli sold 46,991 shares of Central Garden & Pet stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $37.87, for a total value of $1,779,549.17. Following the completion of the transaction, the director now owns 61,317 shares in the company, valued at approximately $2,322,074.79. The disclosure for this sale can be found here. Insiders sold 80,299 shares of company stock worth $3,028,258 in the last quarter. 12.60% of the stock is owned by insiders.

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About Central Garden & Pet

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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