Cintas Co. (NASDAQ:CTAS) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 3,002,900 shares, an increase of 7.6% from the June 30th total of 2,791,900 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average daily trading volume, of 540,400 shares, the days-to-cover ratio is currently 5.6 days.
Several analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Cintas to $267.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. BidaskClub upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Barclays reiterated a “buy” rating and set a $265.00 target price on shares of Cintas in a research report on Thursday, July 18th. Morgan Stanley lifted their target price on Cintas from $184.00 to $202.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 17th. Finally, Nomura lifted their target price on Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $241.44.
In related news, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,401,224.67. Following the completion of the sale, the vice president now directly owns 127,624 shares in the company, valued at $33,283,062.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,274,741.52. Following the completion of the sale, the insider now owns 69,053 shares of the company’s stock, valued at $18,008,331.87. The disclosure for this sale can be found here. 19.10% of the stock is owned by company insiders.
Shares of Cintas stock traded up $4.60 during trading on Friday, hitting $264.62. 329,402 shares of the stock traded hands, compared to its average volume of 655,043. The firm has a market cap of $27.28 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 3.09 and a beta of 0.99. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 0.85. Cintas has a 52-week low of $155.98 and a 52-week high of $266.73. The stock’s fifty day simple moving average is $251.98 and its 200 day simple moving average is $222.75.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.94 by $0.13. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. Cintas had a return on equity of 26.77% and a net margin of 12.80%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 earnings per share. As a group, equities analysts expect that Cintas will post 8.45 EPS for the current year.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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