Truist Securities Reiterates Central Garden & Pet (CENT) Buy Recommendation

Fintel reports that on September 21, 2023, Truist Securities reiterated coverage of Central Garden & Pet (NASDAQ:CENT) with a Buy recommendation.

Analyst Price Forecast Suggests 4.07% Upside

As of August 31, 2023, the average one-year price target for Central Garden & Pet is 48.76. The forecasts range from a low of 40.40 to a high of $52.50. The average price target represents an increase of 4.07% from its latest reported closing price of 46.85.

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The projected annual revenue for Central Garden & Pet is 3,436MM, an increase of 5.16%. The projected annual non-GAAP EPS is 2.72.

What is the Fund Sentiment?

There are 498 funds or institutions reporting positions in Central Garden & Pet. This is a decrease of 9 owner(s) or 1.78% in the last quarter. Average portfolio weight of all funds dedicated to CENT is 0.11%, a decrease of 10.81%. Total shares owned by institutions increased in the last three months by 6.14% to 43,062K shares. The put/call ratio of CENT is 3.03, indicating a bearish outlook.

What are Other Shareholders Doing?

Victory Capital Management holds 3,174K shares representing 5.91% ownership of the company. In it's prior filing, the firm reported owning 2,965K shares, representing an increase of 6.58%. The firm decreased its portfolio allocation in CENT by 2.61% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 2,906K shares representing 5.41% ownership of the company. In it's prior filing, the firm reported owning 680K shares, representing an increase of 76.60%. The firm increased its portfolio allocation in CENT by 301.85% over the last quarter.

SSGSX - Victory Sycamore Small Company Opportunity Fund holds 2,344K shares representing 4.37% ownership of the company. In it's prior filing, the firm reported owning 2,200K shares, representing an increase of 6.14%. The firm decreased its portfolio allocation in CENT by 1.64% over the last quarter.

Champlain Investment Partners holds 1,738K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 1,643K shares, representing an increase of 5.47%. The firm decreased its portfolio allocation in CENT by 3.46% over the last quarter.

Allspring Global Investments Holdings holds 1,617K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 1,626K shares, representing a decrease of 0.59%. The firm decreased its portfolio allocation in CENT by 6.87% over the last quarter.

Central Garden & Pet Background Information
(This description is provided by the company.)

Central Garden & Pet understands that home is central to life and has proudly nurtured happy and healthy homes for over 40 years. With 2020 net sales of $2.7 billion, Central is on a mission to lead the future of the pet and garden industries. The Company's innovative and trusted products are dedicated to help lawns grow greener, gardens bloom bigger, pets live healthier and communities grow stronger. Central is home to a leading portfolio of more than 65 high-quality brands including Pennington®, Nylabone®, Kaytee®, Amdro® and Aqueon®, strong manufacturing and distribution capabilities and a passionate, entrepreneurial growth culture. Central Garden & Pet is based in Walnut Creek, California and has over 6,300 employees across North America and Europe.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.