Central Garden & Pet (NASDAQ:CENTA) Given New $53.00 Price Target at Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENTA) had its target price lowered by investment analysts at Canaccord Genuity Group from $54.00 to $53.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 40.36% from the company’s previous close.

A number of other brokerages also recently issued reports on CENTA. JPMorgan Chase & Co. reduced their price target on Central Garden & Pet from $33.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, April 17th. Wall Street Zen raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised Central Garden & Pet from a “hold” rating to a “strong-buy” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Central Garden & Pet presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Central Garden & Pet Stock Down 0.5%

NASDAQ:CENTA opened at $37.76 on Wednesday. The company has a current ratio of 3.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.72. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 13.73 and a beta of 0.59. The stock has a fifty day simple moving average of $34.46 and a 200-day simple moving average of $32.44. Central Garden & Pet has a twelve month low of $25.97 and a twelve month high of $38.76.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.29 EPS for the quarter, beating the consensus estimate 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 business had revenue of $906.15 million during the quarter, compared to analyst estimates of $846.58 million. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. Analysts anticipate that Central Garden & Pet will post 2.89 EPS for the current year.

Institutional Investors Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently modified their holdings of CENTA. Vanguard Group Inc. lifted its stake in Central Garden & Pet by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 5,804,612 shares of the company’s stock valued at $169,437,000 after acquiring an additional 20,819 shares during the period. Victory Capital Management Inc. increased its holdings in Central Garden & Pet by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,217,545 shares of the company’s stock valued at $65,484,000 after purchasing an additional 115,706 shares during the last quarter. State Street Corp increased its position in shares of Central Garden & Pet by 3.5% during the second quarter. State Street Corp now owns 2,174,296 shares of the company’s stock worth $68,034,000 after acquiring an additional 73,755 shares during the period. LSV Asset Management raised its holdings in Central Garden & Pet by 53.4% in the fourth quarter. LSV Asset Management now owns 2,123,479 shares of the company’s stock valued at $61,984,000 after acquiring an additional 738,860 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Central Garden & Pet by 2.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,924,354 shares of the company’s stock worth $55,729,000 after acquiring an additional 54,930 shares during the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Company Profile

Central Garden & Pet Co is a leading producer, marketer and distributor of branded consumable gardening products and pet supplies in North America. Headquartered in Walnut Creek, California, the company serves both retail and wholesale customers through a network of distribution centers across the United States and Canada. Operating under the ticker symbol CENTA on the NASDAQ exchange, Central Garden & Pet has been publicly traded since 2003.

The company’s Garden segment offers a broad portfolio of lawn and garden care solutions, including fertilizers, weed and pest control products, soil and mulch, and plant care accessories.