Central Garden & Pet (NASDAQ:CENTA) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded Central Garden & Pet from strong-buy to hold, even as other analysts remain mixed and MarketBeat shows a consensus Moderate Buy rating with a $45 price target.
• The company recently beat quarterly earnings estimates, reporting $1.29 EPS versus $1.08 expected and revenue of $906.15 million versus $846.58 million forecast.
• CENTA shares were trading at $37.76, below the consensus target, while institutional ownership remains significant at 50.82% of shares outstanding.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. 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 lowered their target price on 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. JPMorgan Chase & Co. dropped their price target on Central Garden & Pet from $33.00 to $32.00 and set an "underweight" rating for the company in a report on Friday, April 17th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Central Garden & Pet in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Central Garden & Pet currently has an average rating of "Moderate Buy" and a consensus price target of $45.00.

Central Garden & Pet Price Performance

Shares of CENTA opened at $37.76 on Tuesday. The company's 50-day moving average is $36.29 and its 200-day moving average is $33.61. 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 has a market capitalization of $2.36 billion, a PE ratio of 13.73 and a beta of 0.57. Central Garden & Pet has a fifty-two week low of $25.97 and a fifty-two week high of $39.99.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.08 by $0.21. Central Garden & Pet had a net margin of 5.42% and a return on equity of 11.55%. The business had revenue of $906.15 million during the quarter, compared to the consensus estimate of $846.58 million. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. Equities analysts forecast that Central Garden & Pet will post 2.89 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CENTA. Royal Bank of Canada boosted its stake in shares of Central Garden & Pet by 15.9% in the first quarter. Royal Bank of Canada now owns 18,471 shares of the company's stock valued at $605,000 after buying an additional 2,532 shares during the period. AQR Capital Management LLC raised its holdings in Central Garden & Pet by 56.8% in the 1st quarter. AQR Capital Management LLC now owns 48,438 shares of the company's stock valued at $1,585,000 after acquiring an additional 17,556 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Central Garden & Pet by 2.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,421 shares of the company's stock valued at $996,000 after acquiring an additional 743 shares in the last quarter. Millennium Management LLC lifted its position in shares of Central Garden & Pet by 179.2% during the 1st quarter. Millennium Management LLC now owns 180,907 shares of the company's stock valued at $5,921,000 after acquiring an additional 116,101 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Central Garden & Pet by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 263,518 shares of the company's stock valued at $8,625,000 after acquiring an additional 12,749 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.

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