Cintas Co. (NASDAQ:CTAS) Short Interest Update

Cintas Co. (NASDAQ:CTAS) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,430,000 shares, a decrease of 5.3% from the August 15th total of 1,510,000 shares. Based on an average daily trading volume, of 404,100 shares, the days-to-cover ratio is presently 3.5 days. Approximately 1.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTAS. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Morgan Stanley increased their price target on Cintas from $143.75 to $156.25 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday. Redburn Atlantic began coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Finally, UBS Group increased their price target on Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $186.30.

Cintas Price Performance

NASDAQ:CTAS opened at $203.74 on Friday. Cintas has a one year low of $118.68 and a one year high of $209.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The stock has a market cap of $20.67 billion, a PE ratio of 14.07, a P/E/G ratio of 4.36 and a beta of 1.32. The stock has a 50 day moving average price of $206.29 and a 200 day moving average price of $181.97.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts expect that Cintas will post 16.64 EPS for the current fiscal year.

Cintas Cuts Dividend

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

Cintas announced that its board has initiated a stock repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Cintas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTAS. Vantage Financial Partners LLC acquired a new stake in Cintas during the fourth quarter worth $1,029,000. Aveo Capital Partners LLC increased its stake in Cintas by 4.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after acquiring an additional 44 shares during the last quarter. Financial Advocates Investment Management increased its stake in Cintas by 15.5% during the fourth quarter. Financial Advocates Investment Management now owns 640 shares of the business services provider’s stock worth $386,000 after acquiring an additional 86 shares during the last quarter. TrinityPoint Wealth LLC acquired a new stake in Cintas during the fourth quarter worth $782,000. Finally, Coldstream Capital Management Inc. increased its stake in Cintas by 30.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,342 shares of the business services provider’s stock worth $809,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.