Central Garden & Pet (NASDAQ:CENTA) Reaches New 1-Year High – Should You Buy?

Central Garden & Pet Company (NASDAQ:CENTA)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $39.03 and last traded at $39.2250, with a volume of 21243 shares changing hands. The stock had previously closed at $37.92.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CENTA shares. JPMorgan Chase & Co. lowered 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. Zacks Research raised Central Garden & Pet from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Wall Street Zen raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Canaccord Genuity Group decreased their price target on shares of 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. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Central Garden & Pet Trading Down 1.3%

The company has a debt-to-equity ratio of 0.72, a current ratio of 3.45 and a quick ratio of 2.16. The firm’s 50 day moving average price is $35.18 and its 200 day moving average price is $32.81. The stock has a market capitalization of $2.44 billion, a P/E ratio of 14.19 and a beta of 0.59.

Central Garden & Pet (NASDAQ:CENTA) last posted its 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. Central Garden & Pet had a return on equity of 11.55% and a net margin of 5.42%.The company had revenue of $906.15 million for the quarter, compared to analysts’ expectations of $846.58 million. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. As a group, equities research analysts expect that Central Garden & Pet Company will post 2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CENTA. Allspring Global Investments Holdings LLC raised its holdings 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 buying an additional 54,930 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of 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 during the last quarter. Denali Advisors LLC bought a new stake in shares of Central Garden & Pet during the fourth quarter valued at approximately $893,000. Picton Mahoney Asset Management purchased a new position in Central Garden & Pet in the 3rd quarter worth approximately $661,000. Finally, Jennison Associates LLC raised its holdings in Central Garden & Pet by 118.0% in the 4th quarter. Jennison Associates LLC now owns 58,573 shares of the company’s stock worth $1,710,000 after acquiring an additional 31,708 shares during the last quarter. 50.82% of the stock is owned by hedge funds and other 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.