Central Garden & Pet (NASDAQ:CENTA) Downgraded by Zacks Research to Hold

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

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Central Garden & Pet in a report on Tuesday, July 7th. Wall Street Zen raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Canaccord Genuity Group decreased their target price on Central Garden & Pet from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lowered their target price on 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. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENTA opened at $37.76 on Tuesday. Central Garden & Pet has a 1 year low of $25.97 and a 1 year high of $39.99. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 13.73 and a beta of 0.57. 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 company’s 50 day simple moving average is $36.29 and its 200 day simple moving average is $33.61.

Central Garden & Pet (NASDAQ:CENTA) last released its 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 firm had revenue of $906.15 million during 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. As a group, research analysts predict that Central Garden & Pet will post 2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds have recently modified their holdings of the business. Illinois Municipal Retirement Fund raised its position in shares of Central Garden & Pet by 1.4% during the first quarter. Illinois Municipal Retirement Fund now owns 33,050 shares of the company’s stock worth $1,071,000 after acquiring an additional 443 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Central Garden & Pet by 22.6% in the second quarter. GAMMA Investing LLC now owns 3,295 shares of the company’s stock valued at $128,000 after acquiring an additional 608 shares during the last quarter. Aristides Capital LLC boosted its holdings in Central Garden & Pet by 8.0% in the third quarter. Aristides Capital LLC now owns 8,436 shares of the company’s stock valued at $249,000 after acquiring an additional 623 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Central Garden & Pet by 2.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,421 shares of the company’s stock valued at $996,000 after purchasing an additional 743 shares during the period. Finally, IFP Advisors Inc raised its holdings in Central Garden & Pet by 198.4% during the 4th quarter. IFP Advisors Inc now owns 1,131 shares of the company’s stock worth $33,000 after purchasing an additional 752 shares during the last quarter. Institutional investors and hedge funds 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.