Oppenheimer Remains Sidelined on Central Garden & Pet (CENT) After Meeting with Management
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Oppenheimer reiterated a Perform rating on Central Garden & Pet Co. (NASDAQ: CENT) after meeting with management at the company's annual Garden Dealer Exhibition Show in Las Vegas, NV.
Analyst Brian Nagel commented, "We walked away from our meetings with Mr. Roeth and other senior leaders at CENT more encouraged with the strategic positioning and direction of the company. CENT is simultaneously focused on further tightening expense controls and driving better innovation within its Pet and Garden segments. Our analysis increasingly suggests to us that there exists a potentially significant infrastructure rationalization opportunity at the company that could over time, fuel improved operating margins and free up capital for stepped-up investment spending. In our CENT model, we currently forecast operating margins of less than 7% in FY16 (Sep.). Management indicates that it plans to discuss in more detail guidance and longer term financial targets when it reports FY16 results in Oct. We keep our Perform rating for now as we further work to understand the intricacies of the CENT business model and the sector in which the company operates."
Shares of Central Garden & Pet Co. closed at $25.74 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!