Central Garden & Pet (NASDAQ:CENT) Short Interest Up 11.9% in December

Central Garden & Pet (NASDAQ:CENT) was the recipient of a significant 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 shares of the company are sold short.

Analyst Upgrades and Downgrades

CENT has been the subject of a number of recent research reports. Truist Financial dropped 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. Canaccord Genuity Group decreased their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, Argus cut shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.75.

Institutional Investors Weigh In On Central Garden & Pet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in shares of Central Garden & Pet by 693.6% during the fourth quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock worth $48,000 after buying an additional 1,089 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Central Garden & Pet during the 2nd quarter worth approximately $51,000. Glenmede Trust Co. NA grew its stake in shares of 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Central Garden & Pet in the second quarter valued at approximately $113,000. Finally, SG Americas Securities LLC bought a new stake in shares of Central Garden & Pet in the third quarter worth $111,000. 16.13% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Trading Down 0.2 %

NASDAQ:CENT opened at $36.26 on Monday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 22.41 and a beta of 0.79. The business’s 50-day moving average price is $38.70 and its two-hundred day moving average price is $37.80. The company has a current ratio of 3.66, a quick ratio of 2.19 and a debt-to-equity ratio of 0.76. Central Garden & Pet has a 1-year low of $32.17 and a 1-year high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $707.83 million. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. On average, equities analysts expect that Central Garden & Pet will post 2.22 earnings per share for the current year.

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.