Short Interest in Central Garden & Pet (NASDAQ:CENTA) Increases By 13.0%

Central Garden & Pet (NASDAQ:CENTA) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 890,000 shares, a growth of 13.0% from the November 30th total of 787,500 shares. Based on an average daily volume of 315,300 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CENTA. JPMorgan Chase & Co. decreased their target price on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, October 11th. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Central Garden & Pet has a consensus rating of “Buy” and an average price target of $41.33.

Central Garden & Pet Stock Down 1.2 %

Shares of CENTA traded down $0.40 on Monday, hitting $32.90. 147,942 shares of the stock traded hands, compared to its average volume of 285,634. The company has a market capitalization of $2.16 billion, a PE ratio of 20.33 and a beta of 0.78. Central Garden & Pet has a one year low of $27.70 and a one year high of $41.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The business has a 50 day simple moving average of $32.52 and a 200 day simple moving average of $32.62.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors have recently modified their holdings of the business. Quarry LP boosted its holdings in Central Garden & Pet by 503.2% in the second quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after purchasing an additional 629 shares during the last quarter. Federated Hermes Inc. bought a new position in Central Garden & Pet in the second quarter worth approximately $26,000. Quest Partners LLC bought a new position in Central Garden & Pet in the 2nd quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Central Garden & Pet during the second quarter valued at $61,000. Finally, nVerses Capital LLC grew its holdings in Central Garden & Pet by 216.7% during the second quarter. nVerses Capital LLC now owns 1,900 shares of the company’s stock valued at $63,000 after purchasing an additional 1,300 shares during the period. 50.82% of the stock is owned by hedge funds and other institutional investors.

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.