Central Garden & Pet (NASDAQ:CENTA) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Central Garden & Pet (NASDAQ:CENTA) from a strong-buy rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on CENTA. JPMorgan Chase & Co. lowered their target price on Central Garden & Pet from $33.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, April 17th. Wall Street Zen upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Central Garden & Pet in a report on Tuesday, July 7th. Finally, Canaccord Genuity Group lowered their price objective on Central Garden & Pet from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Central Garden & Pet Stock Up 1.7%

CENTA opened at $37.76 on Tuesday. Central Garden & Pet has a twelve month low of $25.97 and a twelve month high of $39.99. The company’s 50-day moving average price is $36.29 and its two-hundred day moving average price is $33.61. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 13.73 and a beta of 0.57. The company has a quick ratio of 2.16, a current ratio of 3.45 and a debt-to-equity ratio of 0.72.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.21. The company had revenue of $906.15 million during the quarter, compared to analyst estimates of $846.58 million. Central Garden & Pet had a net margin of 5.42% and a return on equity of 11.55%. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. As a group, equities analysts expect that Central Garden & Pet will post 2.89 earnings per share for the current year.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in Central Garden & Pet by 2.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,924,354 shares of the company’s stock valued at $55,729,000 after buying an additional 54,930 shares in the last quarter. Denali Advisors LLC bought a new position in shares of Central Garden & Pet in the fourth quarter valued at approximately $893,000. Jennison Associates LLC boosted its position in shares of Central Garden & Pet by 118.0% in the fourth quarter. Jennison Associates LLC now owns 58,573 shares of the company’s stock valued at $1,710,000 after acquiring an additional 31,708 shares during the period. Vanguard Group Inc. grew its stake in Central Garden & Pet by 0.4% during the fourth 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 in the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in Central Garden & Pet during the 4th quarter worth approximately $5,092,000. Institutional investors own 50.82% of the company’s stock.

About Central Garden & Pet

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.