Central Garden & Pet (NASDAQ:CENT) Sets New 52-Week High – Time to Buy?

Central Garden & Pet Company (NASDAQ:CENT)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $43.83 and last traded at $42.57, with a volume of 121223 shares. The stock had previously closed at $43.18.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CENT shares. Zacks Research raised Central Garden & Pet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Central Garden & Pet in a report on Friday, May 22nd. Finally, Canaccord Genuity Group boosted their price objective on Central Garden & Pet from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $54.00.

Central Garden & Pet Stock Up 2.0%

The stock’s 50-day moving average price is $38.98 and its two-hundred day moving average price is $36.47. The stock has a market capitalization of $2.69 billion, a P/E ratio of 15.63 and a beta of 0.63. The company has a current ratio of 3.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.72.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.21. Central Garden & Pet had a net margin of 5.42% and a return on equity of 11.55%. The company had revenue of $906.15 million for the quarter, compared to analysts’ expectations of $846.58 million. During the same quarter in the previous year, the firm posted $1.04 EPS. Central Garden & Pet’s revenue was up 8.7% on a year-over-year basis. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. As a group, research analysts expect that Central Garden & Pet Company will post 2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Central Garden & Pet by 632.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 974 shares of the company’s stock valued at $32,000 after acquiring an additional 841 shares during the period. Quarry LP bought a new position in Central Garden & Pet during the third quarter worth about $35,000. Fifth Third Bancorp boosted its position in Central Garden & Pet by 1,532.7% during the first quarter. Fifth Third Bancorp now owns 1,845 shares of the company’s stock worth $68,000 after purchasing an additional 1,732 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Central Garden & Pet by 152.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,920 shares of the company’s stock worth $68,000 after purchasing an additional 1,159 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of Central Garden & Pet in the third quarter worth about $94,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet (NASDAQ: CENT) is a leading North American specialty retailer, manufacturer and distributor serving the lawn and garden and pet supplies markets. The company operates through two primary segments: Pet and Garden. In the Pet segment, Central Garden & Pet offers a comprehensive range of products including pet food, treats, accessories, training products and habitat solutions for dogs, cats, birds, fish and small animals. The Garden segment encompasses a wide array of lawn, garden and outdoor living products, such as soils, fertilizers, planters, pest control solutions, landscape lighting and watering equipment.

Central Garden & Pet’s product portfolio includes both proprietary and branded offerings.