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CENT - Central Garden & Pet: Share Price Has A Low Margin Of Safety
Central Garden & Pet Company
2024-03-18 20:40:56 ET
Summary
CENT is a leading provider of pet and garden supplies.
CENT's historical financial results have demonstrated a volatile revenue growth trend. However, its margins remained robust.
In 1Q24, revenue growth was modest. However, on a brighter note, its margins expanded year-over-year. For the rest of 2024, management is expecting slight macroeconomic challenges, dampening the 2024 outlook.
CENT's e-commerce channel is growing rapidly, providing a good opportunity to grow its top line. In addition, the pet industry is expected to continue growing until 2030.
However, due to a lack of margin of safety in its share price, I am recommending a hold rating.