Central Garden & Pet (NASDAQ:CENT) Receives Buy Rating from Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENT)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity Group in a research note issued on Tuesday,Benzinga reports. They currently have a $50.00 price objective on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 46.22% from the company’s previous close.

CENT has been the subject of a number of other research reports. Zacks Research lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Central Garden & Pet in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.50.

Central Garden & Pet Price Performance

NASDAQ:CENT traded up $2.77 during trading hours on Tuesday, hitting $34.20. 122,339 shares of the stock traded hands, compared to its average volume of 121,843. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 15.54 and a beta of 0.66. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average price of $31.77 and a 200 day moving average price of $34.93. Central Garden & Pet has a 1 year low of $28.77 and a 1 year high of $43.88.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings data on Monday, November 24th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. The company had revenue of $678.18 million for the quarter, compared to analyst estimates of $657.86 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) EPS. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. Sell-side analysts forecast that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Central Garden & Pet by 3.1% in the third quarter. Vanguard Group Inc. now owns 1,100,839 shares of the company’s stock valued at $35,942,000 after purchasing an additional 32,716 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Central Garden & Pet by 39.2% during the first quarter. Millennium Management LLC now owns 259,144 shares of the company’s stock valued at $9,500,000 after purchasing an additional 72,977 shares during the period. American Century Companies Inc. boosted its position in shares of Central Garden & Pet by 9.4% during the second quarter. American Century Companies Inc. now owns 258,868 shares of the company’s stock valued at $9,107,000 after buying an additional 22,187 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Central Garden & Pet during the 1st quarter worth approximately $7,347,000. Finally, Hotchkis & Wiley Capital Management LLC grew its position in Central Garden & Pet by 2.6% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 194,590 shares of the company’s stock valued at $7,134,000 after buying an additional 4,840 shares during the period. 16.13% of the stock is currently owned by institutional investors.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.