Central Garden & Pet (NASDAQ:CENT) Earns “Buy” Rating from Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENT)‘s stock had its “buy” rating restated by Canaccord Genuity Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $50.00 price target on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 46.22% from the company’s previous close.

CENT has been the topic of a number of other reports. Weiss Ratings restated a “hold (c-)” rating on shares of Central Garden & Pet in a research report on Wednesday, October 8th. Zacks Research lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.50.

Central Garden & Pet Stock Up 8.8%

CENT stock traded up $2.77 during trading hours on Tuesday, hitting $34.20. The company’s stock had a trading volume of 122,339 shares, compared to its average volume of 121,843. Central Garden & Pet has a 12 month low of $28.77 and a 12 month high of $43.88. The stock has a 50 day moving average price of $31.77 and a two-hundred day moving average price of $34.93. The company has a market capitalization of $2.15 billion, a PE ratio of 15.54 and a beta of 0.66. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings data on Monday, November 24th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.11. The company had revenue of $678.18 million for the quarter, compared to analyst estimates of $657.86 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.18) EPS. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. On average, equities research analysts expect that Central Garden & Pet will post 2.38 earnings per share for the current year.

Hedge Funds Weigh In On Central Garden & Pet

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new stake in Central Garden & Pet in the 1st quarter worth about $7,347,000. Citadel Advisors LLC raised its stake in shares of Central Garden & Pet by 120.9% during the third quarter. Citadel Advisors LLC now owns 156,596 shares of the company’s stock worth $5,113,000 after acquiring an additional 85,706 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Central Garden & Pet in the first quarter worth approximately $2,934,000. Millennium Management LLC increased its holdings in Central Garden & Pet by 39.2% during the 1st quarter. Millennium Management LLC now owns 259,144 shares of the company’s stock valued at $9,500,000 after purchasing an additional 72,977 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in Central Garden & Pet by 37.7% in the second quarter. Qube Research & Technologies Ltd now owns 149,156 shares of the company’s stock worth $5,247,000 after acquiring an additional 40,803 shares during the period. 16.13% of the stock is currently owned by institutional investors.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.