Oppenheimer Remains Sidelined on Central Garden & Pet (CENT) After Meeting with Management
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial 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
- RBC Capital Raises Price Target on Benchmark Electronics (BHE) Following In-Line 3Q
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
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!