Investors Purchase High Volume of Put Options on Cintas (NASDAQ:CTAS)

Cintas Co. (NASDAQ:CTAS) saw unusually large options trading on Thursday. Stock investors bought 4,478 put options on the stock. This is an increase of approximately 124% compared to the typical volume of 1,996 put options.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTAS shares. Royal Bank of Canada upped their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Barclays lifted their price target on shares of 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 raised their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $200.77.

Cintas Stock Performance

Shares of CTAS stock traded down $18.94 on Thursday, hitting $185.45. The company had a trading volume of 1,204,591 shares, compared to its average volume of 1,482,343. Cintas has a twelve month low of $138.39 and a twelve month high of $228.12. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $74.79 billion, a P/E ratio of 46.83, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. The company has a 50-day moving average price of $215.20 and a 200-day moving average price of $203.00.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate 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 39.56% and a net margin of 16.80%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.61 EPS. As a group, equities research analysts predict that Cintas will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were paid a $0.39 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.84%. Cintas’s dividend payout ratio is currently 39.39%.

Hedge Funds Weigh In On Cintas

A number of large investors have recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC raised its position in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Hollencrest Capital Management lifted its position in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 104 shares in the last quarter. Addison Advisors LLC boosted its stake in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the last quarter. Finally, Grove Bank & Trust increased its position in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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.