Short Interest in Central Garden & Pet (NASDAQ:CENT) Grows By 11.9%

Central Garden & Pet (NASDAQ:CENT) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,970,000 shares, a growth of 11.9% from the December 15th total of 1,760,000 shares. Based on an average trading volume of 123,000 shares, the short-interest ratio is presently 16.0 days. Currently, 21.9% of the company’s shares are sold short.

Central Garden & Pet Stock Down 0.2 %

Shares of NASDAQ:CENT traded down $0.06 during trading on Friday, hitting $36.26. 52,724 shares of the company’s stock traded hands, compared to its average volume of 130,949. 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 company has a 50-day moving average price of $38.70 and a 200-day moving average price of $37.80. Central Garden & Pet has a 52 week low of $32.17 and a 52 week high of $47.48. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 22.41 and a beta of 0.79.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings results on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The company had revenue of $669.49 million during 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. As a group, research analysts forecast that Central Garden & Pet will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Argus lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Truist Financial lowered 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. Finally, Canaccord Genuity Group reduced 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 note on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $46.75.

Hedge Funds Weigh In On Central Garden & Pet

A number of large investors have recently added to or reduced their stakes in CENT. Versant Capital Management Inc lifted its holdings in shares of Central Garden & Pet by 693.6% in the fourth quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock valued at $48,000 after purchasing an additional 1,089 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Central Garden & Pet in the 2nd quarter valued at approximately $51,000. Glenmede Trust Co. NA boosted its position in Central Garden & Pet by 23.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after acquiring an additional 395 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Central Garden & Pet during the 2nd quarter worth approximately $113,000. Finally, SG Americas Securities LLC bought a new position in shares of Central Garden & Pet during the 3rd quarter worth approximately $111,000. Institutional investors 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.