JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Central Garden & Pet (NASDAQ:CENTA) Stock

Key Points

• JPMorgan Chase & Co. raised its price target on Central Garden & Pet from $32 to $37, but kept an underweight rating, implying about 5% downside from the current price.
• Analyst views on CENTA are mixed overall: the stock has an average rating of “Moderate Buy” with an average price target of $46.67, though recent moves included both upgrades and downgrades.
• Central Garden & Pet recently beat earnings and revenue expectations, reporting $1.29 EPS versus $1.08 expected and $906.15 million in revenue versus $846.58 million expected.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $32.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 5.06% from the stock's current price.

A number of other equities research analysts have also recently commented on CENTA. Zacks Research cut Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Wall Street Zen raised Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings restated a "hold (c+)" rating on shares of Central Garden & Pet in a research report on Tuesday, July 7th. Finally, Canaccord Genuity Group decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $46.67.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock traded up $1.21 on Thursday, hitting $38.97. The company's stock had a trading volume of 94,954 shares, compared to its average volume of 313,498. Central Garden & Pet has a 52-week low of $25.97 and a 52-week high of $39.99. The company has a quick ratio of 2.16, a current ratio of 3.45 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $36.29 and a 200-day moving average price of $33.61. The company has a market capitalization of $2.44 billion, a P/E ratio of 14.18 and a beta of 0.57.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.29 EPS for the quarter, beating 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 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. On average, equities research analysts expect that Central Garden & Pet will post 2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Central Garden & Pet

Several large investors have recently added to or reduced their stakes in CENTA. LSV Asset Management raised its holdings in shares of Central Garden & Pet by 53.4% in the 4th quarter. LSV Asset Management now owns 2,123,479 shares of the company's stock worth $61,984,000 after purchasing an additional 738,860 shares during the period. Invenomic Capital Management LP purchased a new stake in shares of Central Garden & Pet during the 4th quarter worth about $13,749,000. Ameriprise Financial Inc. lifted its position in Central Garden & Pet by 181.2% during the third 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 lifted its position in Central Garden & Pet by 168.5% during the fourth quarter. Barclays PLC now owns 292,197 shares of the company's stock valued at $8,529,000 after buying an additional 183,363 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Central Garden & Pet by 1,109.1% during the third 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 currently owned by hedge funds and other 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.

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