Short Interest in Cintas Co. (NASDAQ:CTAS) Rises By 7.8%

Cintas Co. (NASDAQ:CTAS) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 5,940,000 shares, a growth of 7.8% from the November 30th total of 5,510,000 shares. Based on an average daily volume of 1,650,000 shares, the days-to-cover ratio is presently 3.6 days.

Cintas Price Performance

Shares of CTAS opened at $182.70 on Thursday. The firm has a market capitalization of $73.68 billion, a price-to-earnings ratio of 46.14, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. 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 stock’s fifty day moving average is $210.03 and its 200-day moving average is $203.95. Cintas has a one year low of $143.64 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm posted $3.61 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Cintas will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.85%. Cintas’s payout ratio is presently 37.59%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTAS. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. UBS Group cut their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Morgan Stanley lifted their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Barclays upped 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. Finally, The Goldman Sachs Group lowered their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $198.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the period. Atria Investments Inc lifted its holdings in shares of Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after buying an additional 86,460 shares during the period. Finally, Creative Planning lifted its stake in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 4,957 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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.