Cintas Co. (NASDAQ:CTAS) Short Interest Update

Cintas Co. (NASDAQ:CTAS) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,650,000 shares, an increase of 7.6% from the October 31st total of 6,180,000 shares. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is currently 4.9 days.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CTAS. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Jefferies Financial Group lowered their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Cintas has an average rating of “Hold” and a consensus target price of $199.63.

Hedge Funds Weigh In On Cintas

Hedge funds and other institutional investors have recently made changes to their positions in the company. LGT Financial Advisors LLC increased its position in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Cintas in the 2nd quarter valued at $27,000. Meeder Asset Management Inc. boosted its stake in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. Crewe Advisors LLC boosted its stake in Cintas by 133.3% during the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after acquiring an additional 32 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in Cintas during the second quarter worth $51,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS stock opened at $222.64 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a market capitalization of $89.79 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 4.45 and a beta of 1.32. Cintas has a 52 week low of $136.87 and a 52 week high of $228.12. The company has a 50-day simple moving average of $212.76 and a 200 day simple moving average of $199.24.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.70 EPS. On average, sell-side analysts predict that Cintas will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

About Cintas

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.