Central Garden & Pet (NASDAQ:CENT) Sees Significant Growth in Short Interest

Central Garden & Pet (NASDAQ:CENT) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,600,000 shares, a growth of 8.8% from the October 31st total of 1,470,000 shares. Currently, 16.9% of the company’s stock are sold short. Based on an average trading volume of 119,600 shares, the short-interest ratio is presently 13.4 days.

Central Garden & Pet Stock Down 0.0 %

NASDAQ:CENT traded down $0.02 on Wednesday, hitting $40.25. The stock had a trading volume of 45,357 shares, compared to its average volume of 115,619. Central Garden & Pet has a 1 year low of $32.17 and a 1 year high of $47.48. The firm’s fifty day simple moving average is $36.06 and its two-hundred day simple moving average is $38.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The stock has a market cap of $2.71 billion, a P/E ratio of 24.91 and a beta of 0.81.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The company had revenue of $669.49 million during the quarter, compared to the consensus estimate of $707.83 million. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. Central Garden & Pet’s revenue was down 10.8% compared to the same quarter last year. Analysts predict that Central Garden & Pet will post 2.22 earnings per share for the current year.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale bought a new position in Central Garden & Pet during the second quarter valued at about $51,000. Glenmede Trust Co. NA boosted its stake in Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after acquiring an additional 395 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Central Garden & Pet during the 2nd quarter valued at approximately $113,000. SG Americas Securities LLC purchased a new stake in shares of Central Garden & Pet during the 3rd quarter worth approximately $111,000. Finally, Franklin Resources Inc. raised its holdings in shares of Central Garden & Pet by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock worth $157,000 after purchasing an additional 1,016 shares during the period. 16.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CENT shares. Truist Financial cut their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Canaccord Genuity Group cut their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $46.75.

Central Garden & Pet Company Profile

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments: Pet and Garden. The Pet segment provides dog and cat supplies, such as dog treats and chews, toys, pet beds and containment, grooming products, waste management, and training pads; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.