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 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 presently 3.6 days.

Hedge Funds Weigh In On Cintas

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the last quarter. FMR LLC grew its holdings in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC increased its position in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after buying an additional 1,904,926 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of Cintas stock opened at $183.31 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a market cap of $73.93 billion, a price-to-earnings ratio of 46.29, a PEG 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 firm’s 50-day moving average is $210.03 and its 200 day moving average is $203.95.

Cintas (NASDAQ:CTAS) last issued its earnings results 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business posted $3.61 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Cintas will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Truist Financial lowered their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Jefferies Financial Group cut their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Robert W. Baird lowered their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, The Goldman Sachs Group reduced their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $198.46.

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.