Central Garden & Pet (NASDAQ:CENT) Releases FY24 Earnings Guidance

Central Garden & Pet (NASDAQ:CENT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.50 for the period, compared to the consensus estimate of $2.15. Central Garden & Pet also updated its FY 2024 guidance to 2.000- EPS.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Central Garden & Pet from $50.00 to $60.00 and gave the stock a buy rating in a report on Friday, February 9th. TheStreet upgraded Central Garden & Pet from a c+ rating to a b- rating in a research report on Friday, March 1st. Canaccord Genuity Group started coverage on Central Garden & Pet in a research report on Tuesday, March 12th. They set a buy rating and a $52.00 target price for the company. Finally, Canaccord Genuity Group assumed coverage on Central Garden & Pet in a report on Tuesday, March 12th. They issued a buy rating and a $52.00 price target on the stock.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock traded up $0.18 on Wednesday, hitting $41.73. 89,724 shares of the company traded hands, compared to its average volume of 110,631. Central Garden & Pet has a 12-month low of $28.58 and a 12-month high of $44.45. The firm’s 50-day simple moving average is $41.61 and its 200 day simple moving average is $36.28. The company has a market cap of $2.81 billion, a P/E ratio of 20.70 and a beta of 0.72. The company has a current ratio of 3.47, a quick ratio of 1.55 and a debt-to-equity ratio of 0.82.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.15. The firm had revenue of $634.53 million for the quarter, compared to the consensus estimate of $620.11 million. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. Analysts expect that Central Garden & Pet will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Nicholas Lahanas sold 13,101 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $37.64, for a total transaction of $493,121.64. Following the completion of the sale, the chief financial officer now directly owns 115,796 shares in the company, valued at approximately $4,358,561.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Nicholas Lahanas sold 13,101 shares of Central Garden & Pet stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $37.64, for a total value of $493,121.64. Following the sale, the chief financial officer now directly owns 115,796 shares in the company, valued at approximately $4,358,561.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Ranelli sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $38.34, for a total value of $92,016.00. Following the transaction, the director now directly owns 41 shares in the company, valued at $1,571.94. The disclosure for this sale can be found here. Insiders have sold 25,822 shares of company stock valued at $965,026 in the last ninety days. Company insiders own 9.53% of the company’s stock.

Central Garden & Pet Company Profile

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.