Canaccord Genuity Group Has Lowered Expectations for Central Garden & Pet (NASDAQ:CENTA) Stock Price

Central Garden & Pet (NASDAQ:CENTA) had its target price dropped by Canaccord Genuity Group from $54.00 to $53.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 40.36% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of 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 raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research raised shares of Central Garden & Pet from a “hold” rating to a “strong-buy” rating in a research note on Monday. Two research 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 issued a Sell rating to the company’s stock. According to MarketBeat, Central Garden & Pet currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Central Garden & Pet Trading Down 0.5%

NASDAQ CENTA opened at $37.76 on Wednesday. The firm’s fifty day moving average is $34.46 and its two-hundred day moving average is $32.44. Central Garden & Pet has a one year low of $25.97 and a one year high of $38.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.16 and a current ratio of 3.45. The firm has a market cap of $2.36 billion, a PE ratio of 13.73 and a beta of 0.59.

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

Institutional Trading of Central Garden & Pet

A number of hedge funds have recently bought and sold shares of the company. Public Sector Pension Investment Board lifted its position in Central Garden & Pet by 16.0% during the third quarter. Public Sector Pension Investment Board now owns 235,482 shares of the company’s stock worth $6,954,000 after buying an additional 32,496 shares during the period. Allspring Global Investments Holdings LLC grew 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 purchasing an additional 54,930 shares in the last quarter. Victory Capital Management Inc. raised its stake in Central Garden & Pet by 5.5% during the third quarter. Victory Capital Management Inc. now owns 2,217,545 shares of the company’s stock valued at $65,484,000 after buying an additional 115,706 shares in the last quarter. Denali Advisors LLC acquired a new position in Central Garden & Pet in the fourth quarter worth $893,000. Finally, Jennison Associates LLC boosted its holdings in shares of Central Garden & Pet by 118.0% during 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. 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.