Cintas Co. (NASDAQ:CTAS) Short Interest Down 11.8% in December

Cintas Co. (NASDAQ:CTAS) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 5,240,000 shares, a drop of 11.8% from the December 15th total of 5,940,000 shares. Based on an average daily trading volume, of 1,730,000 shares, the days-to-cover ratio is presently 3.0 days.

Hedge Funds Weigh In On Cintas

A number of institutional investors have recently modified their holdings of CTAS. Financial Management Professionals Inc. boosted its holdings in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Hollencrest Capital Management raised its position in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Addison Advisors LLC lifted its holdings in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares during the period. Grove Bank & Trust lifted its holdings in shares of Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after buying an additional 134 shares during the period. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Cintas during the 4th quarter worth $31,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 0.1 %

Shares of CTAS stock traded up $0.26 on Friday, reaching $198.31. 1,673,318 shares of the company’s stock were exchanged, compared to its average volume of 2,374,499. The company’s fifty day simple moving average is $205.21 and its 200 day simple moving average is $205.14. Cintas has a 52 week low of $146.63 and a 52 week high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $80.03 billion, a PE ratio of 47.81, a P/E/G ratio of 3.65 and a beta of 1.37.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.61 earnings per share. As a group, analysts forecast that Cintas will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.79%. Cintas’s dividend payout ratio (DPR) is 37.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTAS. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Morgan Stanley lifted their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Jefferies Financial Group lowered their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Finally, Truist Financial dropped their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Cintas has a consensus rating of “Hold” and a consensus price target of $198.46.

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.