Central Garden & Pet Upgraded to Buy Rating by StockNews.com

Central Garden & Pet (NASDAQ:CENTA) Receives Upgrade to “Buy” Rating

In an exciting development for investors, Central Garden & Pet (NASDAQ:CENTA) has been upgraded from a “hold” rating to a “buy” rating by equities research analysts at StockNews.com. This upgrade comes after a number of other analysts have also recently commented on the stock, with Monness Crespi & Hardt, Truist Financial, and JPMorgan Chase & Co. all increasing their target prices and giving positive ratings to the company.

Central Garden & Pet, a company that produces and distributes products for the lawn and garden, and pet supplies markets in the United States, has seen a significant increase in its stock price recently. With a 12 month low of $27.02 and a 12 month high of $40.18, the company’s stock opened at $39.99 on Friday. The firm has a market cap of $2.69 billion and a P/E ratio of 19.80, making it an attractive investment option for many.

In terms of financial performance, Central Garden & Pet recently reported earnings results that exceeded expectations, with the company posting $0.01 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.15. Analysts expect the company to continue to perform well, with an average earnings per share estimate of 2.37 for the current fiscal year.

Additionally, insider transactions at Central Garden & Pet have been notable, with CAO Howard Machek and CFO Nicholas Lahanas both selling shares of the company’s stock in recent weeks. Hedge funds have also shown interest in the company, with several increasing their stakes in Central Garden & Pet in the first quarter.

Overall, Central Garden & Pet’s recent upgrade to a “buy” rating and positive financial performance indicate that the company is on a strong growth trajectory. Investors and analysts alike are optimistic about the company’s future prospects, making it a stock to watch in the coming months.