Central Garden & Pet (NASDAQ:CENT) Trading Down 6.3% – Here’s Why

Shares of Central Garden & Pet Company (NASDAQ:CENT) were down 6.3% on Friday . The company traded as low as $43.64 and last traded at $43.63. 76,406 shares changed hands during trading, a decline of 3% from the average daily volume of 78,975 shares. The stock had previously closed at $46.54.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CENT shares. Weiss Ratings upgraded Central Garden & Pet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Zacks Research lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Canaccord Genuity Group lifted their price target on Central Garden & Pet from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Central Garden & Pet currently has a consensus rating of “Buy” and an average target price of $54.00.

Central Garden & Pet Stock Performance

The stock has a market cap of $2.73 billion, a PE ratio of 16.28 and a beta of 0.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.16 and a current ratio of 3.45. The company’s 50 day simple moving average is $42.85 and its 200 day simple moving average is $39.08.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. The firm had revenue of $883.72 million during the quarter, compared to the consensus estimate of $882.96 million. Central Garden & Pet had a return on equity of 11.38% and a net margin of 5.39%.The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 EPS. Central Garden & Pet has set its FY 2026 guidance at 2.850- EPS. Analysts expect that Central Garden & Pet Company will post 2.89 earnings per share for the current year.

Hedge Funds Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in Central Garden & Pet by 632.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 974 shares of the company’s stock worth $32,000 after buying an additional 841 shares during the period. Quarry LP purchased a new position in Central Garden & Pet during the 3rd quarter valued at about $35,000. Versant Capital Management Inc lifted its holdings in shares of Central Garden & Pet by 119.9% in the second quarter. Versant Capital Management Inc now owns 1,315 shares of the company’s stock worth $58,000 after buying an additional 717 shares in the last quarter. Fifth Third Bancorp grew its stake in Central Garden & Pet by 1,532.7% during the first quarter. Fifth Third Bancorp now owns 1,845 shares of the company’s stock valued at $68,000 after acquiring an additional 1,732 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Central Garden & Pet by 152.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,920 shares of the company’s stock worth $68,000 after purchasing an additional 1,159 shares in the last quarter. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Company Profile

Central Garden & Pet (NASDAQ: CENT) is a leading North American specialty retailer, manufacturer and distributor serving the lawn and garden and pet supplies markets. The company operates through two primary segments: Pet and Garden. In the Pet segment, Central Garden & Pet offers a comprehensive range of products including pet food, treats, accessories, training products and habitat solutions for dogs, cats, birds, fish and small animals. The Garden segment encompasses a wide array of lawn, garden and outdoor living products, such as soils, fertilizers, planters, pest control solutions, landscape lighting and watering equipment.

Central Garden & Pet’s product portfolio includes both proprietary and branded offerings.