Central Garden & Pet (NASDAQ:CENTA) Reaches New 12-Month High – Here’s Why

Shares of Central Garden & Pet Company (NASDAQ:CENTA) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $39.99 and last traded at $38.8230, with a volume of 6517 shares trading hands. The stock had previously closed at $38.77.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CENTA shares. Zacks Research upgraded shares of Central Garden & Pet from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Wall Street Zen upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Canaccord Genuity Group cut their target price on Central Garden & Pet from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. reduced 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. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.00.

Central Garden & Pet Stock Performance

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 stock has a fifty day simple moving average of $35.55 and a two-hundred day simple moving average of $33.06. The firm has a market capitalization of $2.40 billion, a P/E ratio of 13.96 and a beta of 0.57.

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 analysts’ consensus estimates of $1.08 by $0.21. The firm had revenue of $906.15 million for the quarter, compared to analysts’ expectations 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. On average, research analysts predict that Central Garden & Pet Company will post 2.89 EPS for the current year.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently bought and sold shares of CENTA. LSV Asset Management increased its stake in Central Garden & Pet by 53.4% in the fourth quarter. LSV Asset Management now owns 2,123,479 shares of the company’s stock valued at $61,984,000 after purchasing an additional 738,860 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Central Garden & Pet in the 4th quarter valued at about $13,749,000. Ameriprise Financial Inc. increased its position in Central Garden & Pet by 181.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 549,355 shares of the company’s stock valued at $16,222,000 after buying an additional 354,016 shares in the last quarter. Barclays PLC raised its stake in Central Garden & Pet by 168.5% during the 4th quarter. Barclays PLC now owns 292,197 shares of the company’s stock worth $8,529,000 after buying an additional 183,363 shares during the period. Finally, Two Sigma Investments LP raised its stake in Central Garden & Pet by 1,109.1% during the 3rd quarter. Two Sigma Investments LP now owns 196,777 shares of the company’s stock worth $5,811,000 after buying an additional 180,503 shares during the period. 50.82% of the stock is owned by institutional investors.

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.