Cintas Co. (NASDAQ:CTAS) Sees Significant Growth in Short Interest

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTAS. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Morgan Stanley raised their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Barclays increased their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. The Goldman Sachs Group lowered their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Robert W. Baird lowered their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Up 0.3 %

CTAS stock opened at $183.31 on Thursday. The company’s 50 day moving average is $210.03 and its 200 day moving average is $203.95. The stock has a market cap of $73.93 billion, a price-to-earnings ratio of 46.29, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. Cintas has a 1-year low of $143.64 and a 1-year high of $228.12. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.61 EPS. Sell-side analysts predict that Cintas will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

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

Institutional Trading of Cintas

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

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.