$499.89 Million in Sales Expected for Central Garden & Pet Co (CENTA) This Quarter

Equities research analysts predict that Central Garden & Pet Co (NASDAQ:CENTA) will report sales of $499.89 million for the current quarter, Zacks reports. Two analysts have made estimates for Central Garden & Pet’s earnings, with the lowest sales estimate coming in at $484.80 million and the highest estimate coming in at $514.98 million. Central Garden & Pet posted sales of $490.46 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The company is expected to announce its next quarterly earnings results on Tuesday, November 27th.

According to Zacks, analysts expect that Central Garden & Pet will report full year sales of $2.21 billion for the current year, with estimates ranging from $2.20 billion to $2.23 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.35 billion, with estimates ranging from $2.32 billion to $2.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Central Garden & Pet.

A number of equities research analysts recently issued reports on CENTA shares. BMO Capital Markets started coverage on Central Garden & Pet in a research note on Monday, August 13th. They issued an “outperform” rating on the stock. Bank of America started coverage on Central Garden & Pet in a research note on Monday, September 10th. They issued a “buy” rating and a $44.00 target price on the stock. KeyCorp started coverage on Central Garden & Pet in a research note on Thursday, October 11th. They issued an “overweight” rating and a $39.00 target price on the stock. Finally, ValuEngine lowered Central Garden & Pet from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $43.33.

A number of hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board purchased a new stake in Central Garden & Pet in the 3rd quarter valued at approximately $1,988,000. Trexquant Investment LP purchased a new stake in Central Garden & Pet in the 3rd quarter valued at approximately $231,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Central Garden & Pet by 114.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,781 shares of the company’s stock valued at $125,000 after buying an additional 2,015 shares in the last quarter. FMR LLC lifted its stake in Central Garden & Pet by 2.1% in the 3rd quarter. FMR LLC now owns 814,357 shares of the company’s stock valued at $26,988,000 after buying an additional 17,091 shares in the last quarter. Finally, American International Group Inc. lifted its stake in Central Garden & Pet by 16.1% in the 3rd quarter. American International Group Inc. now owns 31,842 shares of the company’s stock valued at $1,055,000 after buying an additional 4,407 shares in the last quarter. 63.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CENTA traded down $0.37 on Wednesday, reaching $28.85. The stock had a trading volume of 147,494 shares, compared to its average volume of 195,453. The stock has a market cap of $1.53 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.26 and a beta of 0.25. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.42 and a quick ratio of 2.57. Central Garden & Pet has a twelve month low of $27.88 and a twelve month high of $41.97.

About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats comprising edible bones, edible and non-edible chews, rawhide, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and food, cages and habitats, toys, chews, and related accessories for birds, small animals, and specialty pets.

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