Central Garden & Pet (NASDAQ:CENT) Short Interest Update

Central Garden & Pet (NASDAQ:CENT) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 1,130,000 shares, a decrease of 5.0% from the March 31st total of 1,190,000 shares. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 116,500 shares, the short-interest ratio is currently 9.7 days.

Central Garden & Pet Stock Down 0.7 %

CENT stock traded down $0.29 during mid-day trading on Tuesday, reaching $40.95. The company had a trading volume of 54,643 shares, compared to its average volume of 113,355. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 20.31 and a beta of 0.72. Central Garden & Pet has a 52 week low of $28.48 and a 52 week high of $44.45. The stock has a 50 day simple moving average of $41.79 and a two-hundred day simple moving average of $35.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.47 and a quick ratio of 1.55.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.15. The firm had revenue of $634.53 million during the quarter, compared to analysts’ expectations of $620.11 million. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. As a group, equities analysts predict that Central Garden & Pet will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Nicholas Lahanas sold 13,101 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $37.64, for a total transaction of $493,121.64. Following the sale, the chief financial officer now directly owns 115,796 shares of the company’s stock, valued at $4,358,561.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Nicholas Lahanas sold 13,101 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $37.64, for a total transaction of $493,121.64. Following the completion of the sale, the chief financial officer now owns 115,796 shares in the company, valued at $4,358,561.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Edward Hanson sold 5,321 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $37.19, for a total value of $197,887.99. Following the completion of the transaction, the insider now owns 35,460 shares in the company, valued at approximately $1,318,757.40. The disclosure for this sale can be found here. Insiders have sold a total of 25,822 shares of company stock worth $965,026 in the last 90 days. Corporate insiders own 9.53% of the company’s stock.

Institutional Trading of Central Garden & Pet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in Central Garden & Pet in the 3rd quarter valued at $98,000. Assenagon Asset Management S.A. acquired a new position in shares of Central Garden & Pet in the third quarter valued at about $148,000. Louisiana State Employees Retirement System acquired a new position in shares of Central Garden & Pet in the fourth quarter valued at about $241,000. Nisa Investment Advisors LLC increased its position in Central Garden & Pet by 28.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock worth $243,000 after acquiring an additional 1,070 shares during the period. Finally, New York State Teachers Retirement System raised its stake in Central Garden & Pet by 21.8% in the 4th quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock worth $257,000 after purchasing an additional 919 shares in the last quarter. Institutional investors own 16.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CENT shares. Canaccord Genuity Group assumed coverage on shares of Central Garden & Pet in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. TheStreet raised Central Garden & Pet from a “c+” rating to a “b-” rating in a research note on Friday, March 1st. Truist Financial raised their price target on Central Garden & Pet from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group assumed coverage on Central Garden & Pet in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company.

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.