Central Garden & Pet (NASDAQ:CENTA) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 698,200 shares, a growth of 30.8% from the January 15th total of 533,900 shares. Based on an average trading volume of 203,200 shares, the days-to-cover ratio is currently 3.4 days. Approximately 1.7% of the company’s stock are sold short.
A number of brokerages have recently commented on CENTA. JPMorgan Chase & Co. cut their target price on shares of Central Garden & Pet from $54.00 to $51.00 in a report on Thursday, January 13th. Zacks Investment Research upgraded shares of Central Garden & Pet from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a research report on Friday, February 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $56.80.
Hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP raised its stake in Central Garden & Pet by 54.9% in the 2nd quarter. Susquehanna International Group LLP now owns 10,029 shares of the company’s stock valued at $484,000 after purchasing an additional 3,555 shares during the last quarter. First Trust Advisors LP raised its stake in Central Garden & Pet by 1.0% in the 2nd quarter. First Trust Advisors LP now owns 72,227 shares of the company’s stock valued at $3,489,000 after purchasing an additional 711 shares during the last quarter. Mint Tower Capital Management B.V. acquired a new position in Central Garden & Pet in the 3rd quarter valued at about $420,000. Federated Hermes Inc. raised its stake in Central Garden & Pet by 37.0% in the 2nd quarter. Federated Hermes Inc. now owns 196,781 shares of the company’s stock valued at $9,505,000 after purchasing an additional 53,171 shares during the last quarter. Finally, IndexIQ Advisors LLC raised its stake in Central Garden & Pet by 11.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 8,664 shares of the company’s stock valued at $373,000 after purchasing an additional 867 shares during the last quarter. 66.14% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CENTA opened at $43.24 on Friday. Central Garden & Pet has a one year low of $39.30 and a one year high of $55.82. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.64 and a current ratio of 2.98. The company’s fifty day moving average is $44.44 and its two-hundred day moving average is $44.38. The firm has a market capitalization of $2.38 billion, a P/E ratio of 15.50 and a beta of 0.64.
Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings data on Tuesday, February 1st. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. Central Garden & Pet had a net margin of 4.60% and a return on equity of 12.78%. During the same period last year, the firm posted $0.28 EPS. On average, sell-side analysts forecast that Central Garden & Pet will post 3.13 earnings per share for the current fiscal year.
About Central Garden & Pet
Central Garden & Pet Co is an innovator, producer and distributor of branded and private label products for the lawn & garden and pet supplies markets in the United States. It operates through the following segments: Pets and Garden. The Pet segment includes dog and cat supplies such as dog treats and chews, toys, pet beds and grooming products, waste management and training pads, pet containment, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.