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. Approximately 16.9% of the shares of the company are sold short. Based on an average daily volume of 119,600 shares, the days-to-cover ratio is currently 13.4 days.

Central Garden & Pet Price Performance

Shares of CENT stock traded up $0.20 during mid-day trading on Wednesday, reaching $40.47. The stock had a trading volume of 31,446 shares, compared to its average volume of 115,555. Central Garden & Pet has a 12-month low of $32.17 and a 12-month high of $47.48. The company has a current ratio of 3.66, a quick ratio of 2.19 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $36.06 and a 200 day simple moving average of $38.37. The company has a market cap of $2.73 billion, a P/E ratio of 24.91 and a beta of 0.81.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The company had revenue of $669.49 million during the quarter, compared to analysts’ expectations of $707.83 million. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The company’s revenue was down 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Central Garden & Pet will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Central Garden & Pet

A number of large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Central Garden & Pet during the 2nd quarter valued at $51,000. Glenmede Trust Co. NA grew its stake in Central Garden & Pet by 23.2% during the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after buying an additional 395 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Central Garden & Pet in the second quarter worth $113,000. SG Americas Securities LLC purchased a new position in shares of Central Garden & Pet in the 3rd quarter valued at $111,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Central Garden & Pet by 29.0% during the 3rd quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after acquiring an additional 1,016 shares in the last quarter. 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.