Cintas Co. (NASDAQ:CTAS) Sees Large Decrease in Short Interest

Cintas Co. (NASDAQ:CTAS) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,450,000 shares, a decline of 9.4% from the March 15th total of 1,600,000 shares. Based on an average trading volume of 344,700 shares, the days-to-cover ratio is presently 4.2 days. Approximately 1.7% of the shares of the company are sold short.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $666.56 on Wednesday. The stock has a market capitalization of $67.57 billion, a PE ratio of 46.03, a P/E/G ratio of 3.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The business has a fifty day moving average price of $640.34 and a two-hundred day moving average price of $584.89. Cintas has a fifty-two week low of $438.59 and a fifty-two week high of $704.84.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.14 EPS. As a group, equities analysts predict that Cintas will post 14.96 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 annualized dividend and a yield of 0.81%. Cintas’s dividend payout ratio is presently 37.29%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CTAS. JPMorgan Chase & Co. lifted their target price on Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Truist Financial lifted their target price on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. The Goldman Sachs Group lifted their target price on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Stifel Nicolaus lifted their target price on Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research note on Friday, December 22nd. Finally, Barclays lifted their price target on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $661.21.

Hedge Funds Weigh In On Cintas

A number of institutional investors have recently modified their holdings of the business. MCF Advisors LLC raised its holdings in shares of Cintas by 19.2% during the 1st quarter. MCF Advisors LLC now owns 155 shares of the business services provider’s stock worth $106,000 after buying an additional 25 shares in the last quarter. Webster Bank N. A. acquired a new position in shares of Cintas during the 1st quarter worth $38,000. Capital Asset Advisory Services LLC raised its holdings in shares of Cintas by 14.4% during the 1st quarter. Capital Asset Advisory Services LLC now owns 2,654 shares of the business services provider’s stock worth $1,788,000 after buying an additional 335 shares in the last quarter. Hengehold Capital Management LLC raised its holdings in shares of Cintas by 15.8% during the 1st quarter. Hengehold Capital Management LLC now owns 1,840 shares of the business services provider’s stock worth $1,264,000 after buying an additional 251 shares in the last quarter. Finally, 180 Wealth Advisors LLC acquired a new position in shares of Cintas during the 1st quarter worth $216,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

About Cintas

Cintas Corporation provides 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.