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

Cintas Co. (NASDAQ:CTAS) was the target of some unusual options trading on Thursday. Investors acquired 4,478 put options on the stock. This is an increase of approximately 124% compared to the average daily volume of 1,996 put options.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday. The Goldman Sachs Group dropped their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday. UBS Group reduced their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday. Truist Financial cut their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $195.90.

Cintas Stock Up 2.3 %

CTAS stock opened at $186.94 on Friday. The company has a 50 day moving average of $214.31 and a two-hundred day moving average of $202.98. The company has a market cap of $75.39 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 4.15 and a beta of 1.33. Cintas has a 12-month low of $142.18 and a 12-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.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion during 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%. Cintas’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $3.61 earnings per share. On average, equities analysts anticipate that Cintas will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, November 15th. Cintas’s dividend payout ratio is 39.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CTAS. LGT Financial Advisors LLC increased its position in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Cintas by 341.4% during the 3rd 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 raised its stake in shares of Cintas by 433.3% in the 3rd 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 lifted its holdings in 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 purchasing an additional 114 shares during the last quarter. Finally, Grove Bank & Trust boosted its position in 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 during the period. 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.