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

Central Garden & Pet (NASDAQ:CENT) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,720,000 shares, an increase of 7.5% from the November 15th total of 1,600,000 shares. Based on an average daily trading volume, of 120,500 shares, the short-interest ratio is currently 14.3 days. Approximately 18.8% of the shares of the company are short sold.

Central Garden & Pet Stock Down 0.1 %

Shares of NASDAQ:CENT traded down $0.03 during midday trading on Monday, reaching $40.69. The company’s stock had a trading volume of 172,168 shares, compared to its average volume of 115,422. Central Garden & Pet has a 12-month low of $32.17 and a 12-month high of $47.48. The company has a quick ratio of 2.19, a current ratio of 3.66 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $36.87 and a 200-day moving average of $38.09. The firm has a market capitalization of $2.67 billion, a P/E ratio of 25.14 and a beta of 0.81.

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

Hedge Funds Weigh In On Central Garden & Pet

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Central Garden & Pet by 0.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 893,226 shares of the company’s stock worth $32,576,000 after buying an additional 7,893 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Central Garden & Pet by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock valued at $29,926,000 after acquiring an additional 5,571 shares during the period. American Century Companies Inc. boosted its holdings 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 valued at $6,262,000 after acquiring an additional 32,009 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Central Garden & Pet by 1.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 148,910 shares of the company’s stock worth $5,431,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Central Garden & Pet by 11.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 112,305 shares of the company’s stock valued at $4,096,000 after purchasing an additional 11,671 shares in the last quarter. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CENT. Canaccord Genuity Group decreased their price objective on shares of 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. Truist Financial cut their price objective on shares of 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. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $46.75.

About Central Garden & Pet

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.