Central Garden & Pet (NASDAQ:CENTA) Upgraded to Buy at Wall Street Zen

Key Points

• Central Garden & Pet was upgraded to “buy” by Wall Street Zen, adding to a generally constructive analyst backdrop. The stock now carries a consensus rating of Moderate Buy with a $44.00 average target price.
• The company beat quarterly expectations, reporting EPS of $1.29 versus $1.08 expected and revenue of $906.15 million versus $846.58 million forecast. It also reaffirmed FY 2026 guidance at about 2.70 EPS.
• Shares opened at $34.24, near the midpoint of their 52-week range of $25.97 to $37.71. The company has a market cap of $2.13 billion and relatively solid liquidity metrics, including a quick ratio of 1.97 and current ratio of 3.45.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group raised shares of Central Garden & Pet to a "buy" rating in a research note on Friday, January 16th. JPMorgan Chase & Co. decreased their price target on shares of Central Garden & Pet from $33.00 to $32.00 and set an "underweight" rating for the company in a research note on Friday, April 17th. Finally, Weiss Ratings raised shares of Central Garden & Pet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, February 3rd. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.00.

Central Garden & Pet Price Performance

Shares of CENTA opened at $34.24 on Friday. The stock has a market capitalization of $2.13 billion, a P/E ratio of 12.45 and a beta of 0.59. Central Garden & Pet has a twelve month low of $25.97 and a twelve month high of $37.71. The company has a 50 day moving average of $33.11 and a 200-day moving average of $31.17. The company has a quick ratio of 1.97, a current ratio of 3.45 and a debt-to-equity ratio of 0.72.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.21. The company had revenue of $906.15 million during the quarter, compared to analysts' expectations of $846.58 million. Central Garden & Pet had a net margin of 5.42% and a return on equity of 11.55%. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. As a group, equities research analysts forecast that Central Garden & Pet will post 2.7 EPS for the current fiscal year.

Insider Activity at Central Garden & Pet

In other news, Director John Ranelli sold 3,668 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $34.50, for a total value of $126,546.00. Following the completion of the sale, the director owned 646 shares of the company's stock, valued at approximately $22,287. This represents a 85.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brendan Dougher sold 3,250 shares of Central Garden & Pet stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $33.38, for a total value of $108,485.00. Following the transaction, the director owned 12,845 shares of the company's stock, valued at $428,766.10. This represents a 20.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 20.28% of the company's stock.

Institutional Investors Weigh In On Central Garden & Pet

A number of large investors have recently added to or reduced their stakes in CENTA. Nordea Investment Management AB boosted its holdings in shares of Central Garden & Pet by 22.7% during the 3rd quarter. Nordea Investment Management AB now owns 212,850 shares of the company's stock worth $6,230,000 after buying an additional 39,339 shares during the period. Public Sector Pension Investment Board boosted its stake in Central Garden & Pet by 16.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 235,482 shares of the company's stock valued at $6,954,000 after purchasing an additional 32,496 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Central Garden & Pet by 2.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,924,354 shares of the company's stock valued at $55,729,000 after purchasing an additional 54,930 shares during the period. LSV Asset Management boosted its stake in Central Garden & Pet by 209.2% in the 3rd quarter. LSV Asset Management now owns 1,384,619 shares of the company's stock valued at $40,888,000 after purchasing an additional 936,852 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Central Garden & Pet by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 2,217,545 shares of the company's stock valued at $65,484,000 after purchasing an additional 115,706 shares during the period. Institutional investors own 50.82% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.