Cintas Co. (NASDAQ:CTAS) Short Interest Update

Cintas Co. (NASDAQ:CTAS) saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 1,510,000 shares, an increase of 11.9% from the July 31st total of 1,350,000 shares. Based on an average trading volume of 415,800 shares, the days-to-cover ratio is currently 3.6 days. Currently, 1.8% of the company’s shares are short sold.

Cintas Stock Down 0.6 %

CTAS stock traded down $4.52 during midday trading on Tuesday, hitting $800.60. The company’s stock had a trading volume of 138,574 shares, compared to its average volume of 369,570. The company has a market cap of $81.23 billion, a PE ratio of 55.60, a P/E/G ratio of 4.28 and a beta of 1.31. Cintas has a 12 month low of $474.74 and a 12 month high of $812.01. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average is $749.31 and its 200-day moving average is $695.00.

Cintas’s stock is scheduled to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, topping the consensus estimate of $3.80 by $0.19. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.33 EPS. On average, equities research analysts forecast that Cintas will post 16.64 earnings per share for the current fiscal year.

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

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be paid a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio is presently 43.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CTAS shares. Citigroup downgraded Cintas from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $530.00 to $570.00 in a report on Friday, May 24th. Stifel Nicolaus increased their price objective on Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a report on Tuesday, August 13th. Morgan Stanley increased their target price on Cintas from $575.00 to $625.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Finally, Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two equities research 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’s stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $742.36.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the transaction, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 15.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cintas

A number of institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its holdings in shares of Cintas by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after purchasing an additional 838 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Cintas by 111.5% in the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after acquiring an additional 3,878 shares during the last quarter. Bensler LLC lifted its holdings in shares of Cintas by 4.7% in the 2nd quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock valued at $10,048,000 after acquiring an additional 646 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cintas by 19.8% in the 2nd quarter. SG Americas Securities LLC now owns 14,733 shares of the business services provider’s stock valued at $10,317,000 after acquiring an additional 2,439 shares during the last quarter. Finally, Milestone Asset Management LLC bought a new position in shares of Cintas in the 2nd quarter valued at about $1,318,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

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.