Truist Financial Raises Central Garden & Pet (NASDAQ:CENTA) Target Price to $50.00
Central Garden & Pet (NASDAQ:CENTA) received a significant boost in its target price from equities researchers at Truist Financial, who raised it from $45.00 to $50.00. This upgrade comes with a “buy” rating on the stock, indicating a potential upside of 24.84% from the company’s previous close.
Other research analysts have also shown positive sentiment towards CENTA. StockNews.com upgraded Central Garden & Pet from a “hold” rating to a “buy” rating, while JPMorgan Chase & Co. and Monness Crespi & Hardt both raised their target prices on the stock. Overall, the consensus rating for Central Garden & Pet is a “Moderate Buy” with a consensus price target of $41.75.
In terms of performance, Central Garden & Pet stock opened at $40.05 on Monday with a market cap of $2.69 billion. The company has a PE ratio of 17.99 and a beta of 0.70. Additionally, insider activity has been noted, with Director John Ranelli selling shares of the stock.
On the institutional side, several investors have either increased or decreased their stakes in CENTA. Vanguard Group Inc., Allspring Global Investments Holdings LLC, and Champlain Investment Partners LLC are among the institutions that have added to their positions in Central Garden & Pet.
Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. The company operates through two segments: Pet and Garden, offering a wide range of products for pets and gardening needs.
Overall, Central Garden & Pet seems to be on an upward trajectory with positive analyst ratings, target price upgrades, and institutional investor interest. Investors and analysts are keeping a close eye on the company’s performance as it continues to grow and expand its market presence.
