Central Garden (CENT) is a Top-Ranked Momentum Stock: Should You Buy?

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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

Central Garden (CENT)

Committed to product innovation, Central Garden & Pet Co. is looking forward to strengthening its position as one of the leading companies in the U.S. pet supplies and lawn and garden supplies space. Unique packaging, point-of-sale displays, logistic capabilities and a high level of customer service are some of its key growth catalysts.

CENT boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of Central Garden has seen some interesting price action recently; the stock is down 1.6% over the past one week and up 12.1% over the past four weeks. And in the last one-year period, CENT has gained 30.4%. As for the stock's trading volume, 138,484.98 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.19 to $2.22 per share. CENT boasts an average earnings surprise of 37.8%.

CENT should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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Central Garden & Pet Company (CENT) : Free Stock Analysis Report

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