Central Garden & Pet (NASDAQ:CENT) Sets New 52-Week High – Should You Buy?

Central Garden & Pet Company (NASDAQ:CENT) reached a new 52-week high on Monday. The company traded as high as $47.36 and last traded at $45.5730, with a volume of 989 shares traded. The stock had previously closed at $45.38.

Analyst Ratings Changes

CENT has been the subject of several research analyst reports. Zacks Research cut Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Wall Street Zen raised Central Garden & Pet to a “hold” rating in a report on Saturday, October 17th. Finally, Weiss Ratings downgraded Central Garden & Pet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Central Garden & Pet Price Performance

The stock’s 50-day moving average is $41.65 and its two-hundred day moving average is $39.69. The stock has a market cap of $2.82 billion, a P/E ratio of 16.82 and a beta of 0.67.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. The company had revenue of $883.72 million for the quarter, compared to analysts’ expectations of $882.96 million. The business’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 earnings per share. Central Garden & Pet has set its FY 2026 guidance at 2.850- EPS. On average, analysts anticipate that Central Garden & Pet Company will post 2.98 EPS for the current fiscal year.

Insider Activity at Central Garden & Pet

In other news, insider John Walker, III sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $38.50, for a total transaction of $192,500.00. Following the completion of the transaction, the insider owned 64,679 shares in the company, valued at $2,490,141.50. This trade represents a 7.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Central Garden & Pet

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in Central Garden & Pet by 59.5% during the first quarter. Renaissance Technologies LLC now owns 181,787 shares of the company’s stock valued at $6,684,000 after buying an additional 67,800 shares during the last quarter. Empowered Funds LLC grew its holdings in Central Garden & Pet by 15.0% during the 1st quarter. Empowered Funds LLC now owns 77,792 shares of the company’s stock valued at $2,860,000 after buying an additional 10,132 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Central Garden & Pet in the 2nd quarter worth approximately $2,156,000. Sei Investments Co. increased its stake in Central Garden & Pet by 17.1% in the 1st quarter. Sei Investments Co. now owns 51,188 shares of the company’s stock worth $1,882,000 after acquiring an additional 7,462 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Central Garden & Pet in the 2nd quarter worth approximately $1,613,000. 16.13% of the stock is owned by institutional investors.

Central Garden & Pet Company Profile

Central Garden & Pet Company (NASDAQ:CENT) develops, manufactures, and distributes products for the pet and lawn-and-garden markets. Its pet business serves owners of dogs, cats, birds, fish, small animals, and reptiles with products such as toys, chews, treats, habitats, aquatics equipment, bedding, and animal-care supplies.

The company’s lawn-and-garden operations offer grass seed, fertilizer, weed and pest control products, soil amendments, and other gardening supplies. Its portfolio includes brands such as Pennington, Aqueon, Kaytee, Nylabone, Four Paws, API, and Wild Bird.

Founded in 1955, Central Garden & Pet sells its products primarily through mass merchants, home-improvement and garden retailers, pet specialty stores, independent retailers, distributors, and e-commerce channels.