Truist Financial Raises Price Target for Central Garden & Pet (NASDAQ:CENTA)

Central Garden & Pet (NASDAQ:CENTA) received a price target boost from Truist Financial, with analysts raising their target from $45.00 to $50.00. This upgrade comes with a “buy” rating on the stock, indicating a potential upside of 24.75% from the current price.

The company has also seen positive ratings from other analysts, with JPMorgan Chase & Co. and StockNews.com both increasing their price targets and upgrading their ratings on Central Garden & Pet. Monness Crespi & Hardt also raised their price target, further adding to the positive sentiment surrounding the stock.

Despite the positive analyst outlook, Central Garden & Pet’s stock saw a slight dip of 0.4% on Monday, trading at $40.08. The company has a 12-month low of $27.02 and a high of $40.59, with a market cap of $2.69 billion.

In terms of insider activity, there have been recent sales of the company’s stock by key figures within the organization. John Edward Hanson, an insider, sold over 5,000 shares, while CAO Howard Machek also sold 5,000 shares. Institutional investors have also made moves with GAMMA Investing LLC and SG Americas Securities LLC acquiring new positions in the stock.

Central Garden & Pet operates in the lawn and garden, and pet supplies markets in the United States, with two main segments: Pet and Garden. The company produces a wide range of products for pets, including dog and cat supplies, aquatics, small animals, and equine and livestock products.

Overall, Central Garden & Pet continues to attract positive attention from analysts and investors, with a strong outlook for future growth.