Central Garden & Pet (NASDAQ:CENT) Short Interest Update

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

Central Garden & Pet Price Performance

NASDAQ:CENT traded up $0.04 during trading hours on Wednesday, reaching $40.31. 28,691 shares of the company traded hands, compared to its average volume of 115,541. Central Garden & Pet has a 1-year low of $32.17 and a 1-year high of $47.48. The firm’s 50-day moving average is $36.06 and its 200-day moving average is $38.37. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The stock has a market cap of $2.72 billion, a P/E ratio of 24.89 and a beta of 0.81.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds have recently made changes to their positions in CENT. Empowered Funds LLC purchased a new position in shares of Central Garden & Pet in the 3rd quarter worth $1,681,000. Quest Partners LLC purchased a new position in shares of Central Garden & Pet in the 3rd quarter worth $797,000. Price T Rowe Associates Inc. MD raised its position in shares of Central Garden & Pet by 32.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock worth $1,793,000 after buying an additional 10,237 shares during the period. American Century Companies Inc. raised its position in shares of Central Garden & Pet by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after buying an additional 32,009 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Central Garden & Pet by 748.5% in the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after buying an additional 74,100 shares during the period. Institutional investors and hedge funds own 16.13% of the company’s stock.

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.