Cintas Co. (NASDAQ:CTAS) Short Interest Update

Cintas Co. (NASDAQ:CTAS) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 7,550,000 shares, an increase of 428.0% from the August 31st total of 1,430,000 shares. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group upped their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday. Truist Financial upped their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $199.63.

Insider Buying and Selling at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on 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 owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.10% of the company’s stock.

Institutional Trading of Cintas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in Cintas by 2.2% in the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after purchasing an additional 838 shares during the period. QRG Capital Management Inc. boosted its stake in Cintas by 111.5% during the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after purchasing an additional 3,878 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Cintas by 105.7% during the second quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock worth $3,515,000 after buying an additional 2,580 shares in the last quarter. Journey Advisory Group LLC raised its position in shares of Cintas by 17.1% in the second quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock valued at $4,511,000 after buying an additional 940 shares during the last quarter. Finally, Bensler LLC boosted its position in Cintas by 4.7% during the second quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock worth $10,048,000 after acquiring an additional 646 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 2.3 %

NASDAQ CTAS traded down $4.66 during trading on Friday, hitting $202.35. The company’s stock had a trading volume of 2,332,229 shares, compared to its average volume of 1,492,194. Cintas has a fifty-two week low of $119.69 and a fifty-two week high of $211.57. The company has a market cap of $20.53 billion, a PE ratio of 14.09, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The business’s 50 day simple moving average is $208.63 and its 200-day simple moving average is $183.66.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business earned $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Cintas will post 4.16 EPS for the current fiscal year.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas’s dividend payout ratio is currently 10.77%.

Cintas announced that its board has approved a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.