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

Central Garden & Pet (NASDAQ:CENTA) had its price target hoisted by JPMorgan Chase & Co. from $32.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 3.37% from the company’s current price.

Several other research analysts have also commented on the company. Wall Street Zen upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Canaccord Genuity Group cut their price objective on Central Garden & Pet from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Central Garden & Pet in a research note on Tuesday, July 7th. Finally, Zacks Research lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

Central Garden & Pet Price Performance

Central Garden & Pet stock opened at $38.29 on Thursday. The company’s 50 day simple moving average is $36.46 and its 200-day simple moving average is $33.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.16 and a current ratio of 3.45. Central Garden & Pet has a 1 year low of $25.97 and a 1 year high of $39.99. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 13.92 and a beta of 0.57.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $906.15 million during the quarter, compared to analysts’ expectations of $846.58 million. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. As a group, equities research analysts expect that Central Garden & Pet will post 2.89 earnings per share for the current year.

Hedge Funds Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management increased its stake in shares of Central Garden & Pet by 53.4% during the fourth quarter. LSV Asset Management now owns 2,123,479 shares of the company’s stock worth $61,984,000 after buying an additional 738,860 shares during the period. Invenomic Capital Management LP acquired a new stake in Central Garden & Pet in the fourth quarter valued at approximately $13,749,000. Ameriprise Financial Inc. lifted its stake in Central Garden & Pet by 181.2% in the third quarter. Ameriprise Financial Inc. now owns 549,355 shares of the company’s stock worth $16,222,000 after acquiring an additional 354,016 shares during the last quarter. Barclays PLC lifted its stake in Central Garden & Pet by 168.5% in the fourth quarter. Barclays PLC now owns 292,197 shares of the company’s stock worth $8,529,000 after acquiring an additional 183,363 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Central Garden & Pet by 1,109.1% during the 3rd quarter. Two Sigma Investments LP now owns 196,777 shares of the company’s stock worth $5,811,000 after acquiring an additional 180,503 shares in the last quarter. Hedge funds and other 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.