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

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

Central Garden & Pet Stock Up 0.6 %

Shares of NASDAQ:CENT traded up $0.26 during trading on Monday, reaching $40.98. 91,194 shares of the company traded hands, compared to its average volume of 115,363. Central Garden & Pet has a 1-year low of $32.17 and a 1-year 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 market cap of $2.69 billion, a P/E ratio of 25.14 and a beta of 0.81. The firm has a fifty day simple moving average of $36.87 and a 200 day simple moving average of $38.09.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $669.49 million for the quarter, compared to the consensus estimate of $707.83 million. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year. Analysts anticipate that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial dropped their target price 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 reduced their target price on 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 equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $46.75.

Institutional Trading of Central Garden & Pet

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position 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 raised its stake in shares of Central Garden & Pet by 0.7% in 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 in the last quarter. American Century Companies Inc. lifted its holdings in 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 purchasing an additional 32,009 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in 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 valued at $5,431,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Central Garden & Pet by 11.6% in the third 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 during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

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.