Central Garden & Pet (NASDAQ:CENT) Shares Gap Up Following Strong Earnings

Shares of Central Garden & Pet Company (NASDAQ:CENT) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $31.43, but opened at $32.89. Central Garden & Pet shares last traded at $34.2380, with a volume of 18,140 shares.

The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.11. The firm had revenue of $678.18 million during the quarter, compared to the consensus estimate of $657.86 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.Central Garden & Pet’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted ($0.18) EPS. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS.

Analyst Ratings Changes

CENT has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Central Garden & Pet in a research report on Wednesday, October 8th. Zacks Research cut shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $50.00 price target on shares of Central Garden & Pet in a report on Tuesday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.50.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Versor Investments LP purchased a new position in Central Garden & Pet during the first quarter worth about $579,000. Nuveen LLC acquired a new position in shares of Central Garden & Pet during the 1st quarter valued at about $1,034,000. Aristeia Capital L.L.C. purchased a new position in shares of Central Garden & Pet during the 1st quarter worth about $610,000. Hsbc Holdings PLC boosted its position in shares of Central Garden & Pet by 27.0% in the first quarter. Hsbc Holdings PLC now owns 9,420 shares of the company’s stock worth $344,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Central Garden & Pet by 8.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 150,427 shares of the company’s stock worth $5,515,000 after acquiring an additional 12,154 shares during the last quarter. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Up 0.2%

The company has a debt-to-equity ratio of 0.75, a current ratio of 3.56 and a quick ratio of 2.28. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 15.55 and a beta of 0.66. The firm’s 50-day moving average is $31.72 and its 200 day moving average is $34.92.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.