Central Garden & Pet Stock Reaches New 52-Week High After Price Target Increase

Central Garden & Pet’s stock price soared to a new 52-week high on Thursday after Monness Crespi & Hardt raised their price target on the stock from $39.00 to $42.00. With a buy rating from Monness Crespi & Hardt, Central Garden & Pet traded as high as $40.18 and closed at $39.99, with a significant volume of 355,319 shares changing hands. This surge in stock price comes after several other brokerages also issued positive reports on CENTA, including StockNews.com upgrading the stock from a “hold” to a “buy” rating.

In addition to the positive analyst ratings, insider transactions at Central Garden & Pet have also been making headlines. CAO Howard Machek sold 5,000 shares of the company’s stock, while CFO Nicholas Lahanas sold 13,101 shares. These transactions, along with other insider sales, have totaled 25,822 shares over the last three months, worth $965,026.

Furthermore, institutional investors and hedge funds have been showing interest in Central Garden & Pet, with several modifying their holdings of CENTA. GAMMA Investing LLC, SG Americas Securities LLC, and North Star Investment Management Corp. are among the investors who have acquired positions in the company.

Central Garden & Pet’s stock is up 11.3%, with a 50-day simple moving average of $35.85 and a two-hundred day simple moving average of $31.80. The company has a market cap of $2.69 billion and a price-to-earnings ratio of 18.84. Analysts forecast that Central Garden & Pet will post 2.37 EPS for the current year.

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. With a focus on pet supplies and garden products, the company has been gaining traction in the market.

Overall, Central Garden & Pet’s stock has been on an upward trajectory, with positive analyst ratings, insider transactions, and institutional interest driving the stock price to new heights. Investors and analysts alike are keeping a close eye on CENTA as it continues to show strong performance in the market.