Cintas Co. (NASDAQ:CTAS) Short Interest Update

Cintas Co. (NASDAQ:CTAS) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,430,000 shares, a decrease of 5.3% from the August 15th total of 1,510,000 shares. Based on an average daily volume of 404,100 shares, the days-to-cover ratio is currently 3.5 days. Approximately 1.7% of the company’s shares are sold short.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. increased its position in shares of Cintas by 56.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,041 shares of the business services provider’s stock worth $729,000 after purchasing an additional 377 shares in the last quarter. Heritage Wealth Management Inc. purchased a new stake in Cintas in the second quarter valued at approximately $2,008,000. Sanctuary Advisors LLC acquired a new stake in shares of Cintas in the second quarter valued at approximately $8,454,000. Brown Financial Advisors acquired a new position in shares of Cintas in the 2nd quarter valued at $189,000. Finally, KPP Advisory Services LLC raised its position in Cintas by 19.6% in the 2nd quarter. KPP Advisory Services LLC now owns 434 shares of the business services provider’s stock valued at $304,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 1.4 %

Shares of NASDAQ:CTAS traded up $2.85 during trading hours on Thursday, reaching $204.23. The stock had a trading volume of 23,767 shares, compared to its average volume of 1,466,288. Cintas has a 1 year low of $118.68 and a 1 year high of $209.12. The firm’s 50 day moving average is $205.79 and its 200-day moving average is $181.82. The stock has a market capitalization of $20.72 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 4.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.83 earnings per share. Research analysts predict that Cintas will post 16.64 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has authorized a stock repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is currently 10.77%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Royal Bank of Canada cut shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price target for the company. in a research report on Monday, July 15th. Redburn Atlantic initiated coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Barclays lowered their price objective on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Finally, Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $186.30.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.