Cintas Co. (NASDAQ:CTAS) Short Interest Up 7.6% in November

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

Institutional Investors Weigh In On Cintas

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

Cintas Stock Performance

NASDAQ:CTAS opened at $222.65 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas has a twelve month low of $136.87 and a twelve month high of $228.12. The company has a fifty day moving average of $213.49 and a 200-day moving average of $199.94. The firm has a market capitalization of $89.79 billion, a P/E ratio of 56.22, a P/E/G ratio of 4.38 and a beta of 1.33.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate 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 was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 earnings per share. As a group, sell-side analysts anticipate that Cintas will post 4.23 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTAS. The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird lifted their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Morgan Stanley raised their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $199.63.

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.