Central Garden & Pet (NASDAQ:CENT) Short Interest Up 7.5% in November

Central Garden & Pet (NASDAQ:CENT) was the target of a significant increase in short interest during 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 volume of 120,500 shares, the short-interest ratio is currently 14.3 days. Currently, 18.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial decreased 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 report 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 research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet currently has an average rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Price Performance

Central Garden & Pet stock traded up $2.74 on Tuesday, reaching $43.43. The company’s stock had a trading volume of 123,685 shares, compared to its average volume of 115,769. The business’s fifty day moving average price is $37.04 and its 200 day moving average price is $38.07. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 26.65 and a beta of 0.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. Central Garden & Pet has a twelve month low of $32.17 and a twelve month high of $47.48.

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 analysts’ consensus estimates of ($0.22) by $0.04. The business 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 quarterly revenue was down 10.8% on a year-over-year basis. Equities analysts expect that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in shares of Central Garden & Pet during the third quarter worth $1,681,000. Quest Partners LLC acquired a new stake in Central Garden & Pet during the third quarter worth approximately $797,000. American Century Companies Inc. increased its stake 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 in the last quarter. Marshall Wace LLP raised its holdings in shares of Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock valued at $3,234,000 after purchasing an additional 74,100 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Central Garden & Pet by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after acquiring an additional 1,873 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.