Canaccord Genuity analyst Brian McNamara maintained a Buy rating on Central Garden Pet (CENT – Research Report) yesterday and set a price target of $45.00.
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Brian McNamara has given his Buy rating due to a combination of factors, including Central Garden & Pet’s solid performance in profitability metrics despite underwhelming sales figures in Q2. The company reported sales that were slightly below expectations, yet it managed to exceed profitability targets across all measures, showcasing its efficiency and strong margin management.
Furthermore, the company’s commitment to shareholder value is evident through its significant share repurchases, totaling $137 million in the first half of the year, as management perceives the stock to be undervalued. Additionally, Central Garden & Pet has reaffirmed its FY2025 guidance, which takes into account potential shifts in consumer behavior and ongoing macroeconomic uncertainties, while planning strategic investments to enhance productivity and maintain essential operations. These factors collectively support McNamara’s Buy rating and the $45 price target.
CENT’s price has also changed slightly for the past six months – from $36.700 to $34.450, which is a -6.13% drop .