Central Garden & Pet (NASDAQ:CENTA) Upgraded by Zacks Research to “Strong-Buy” Rating

Central Garden & Pet (NASDAQ:CENTA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on CENTA. JPMorgan Chase & Co. decreased their price target on shares of 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 upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Central Garden & Pet Stock Performance

NASDAQ:CENTA opened at $37.76 on Monday. Central Garden & Pet has a 1 year low of $25.97 and a 1 year high of $38.76. The firm’s fifty day simple moving average is $34.46 and its 200 day simple moving average is $32.44. 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 firm has a market capitalization of $2.36 billion, a PE ratio of 13.73 and a beta of 0.59.

Central Garden & Pet (NASDAQ:CENTA) last posted 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 for 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. On average, sell-side analysts anticipate that Central Garden & Pet will post 2.89 EPS for the current year.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of Central Garden & Pet by 3.2% during the 1st quarter. Empowered Funds LLC now owns 259,248 shares of the company’s stock worth $8,405,000 after acquiring an additional 8,088 shares during the period. Amundi bought a new position in shares of Central Garden & Pet during the 1st quarter worth about $239,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Central Garden & Pet by 5.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,012,360 shares of the company’s stock worth $32,821,000 after acquiring an additional 47,980 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Central Garden & Pet by 69.7% during the 1st quarter. Quantinno Capital Management LP now owns 76,990 shares of the company’s stock worth $2,496,000 after acquiring an additional 31,622 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of Central Garden & Pet by 67.9% during the 1st quarter. Lazard Asset Management LLC now owns 121,655 shares of the company’s stock worth $3,944,000 after acquiring an additional 49,201 shares during the period. 50.82% of the stock is owned by institutional investors.

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.