Cintas (NASDAQ:CTAS) Sets New 52-Week High at $814.35

Shares of Cintas Co. (NASDAQ:CTAS) reached a new 52-week high on Tuesday . The company traded as high as $814.35 and last traded at $814.15, with a volume of 103419 shares changing hands. The stock had previously closed at $804.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Cintas from $700.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Citigroup lowered shares of Cintas from a “neutral” rating to a “sell” rating and boosted their target price for the company from $530.00 to $570.00 in a research report on Friday, May 24th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Finally, Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus target price of $742.36.

Cintas Stock Performance

The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $758.53 and a two-hundred day moving average price of $701.34. The stock has a market cap of $82.27 billion, a P/E ratio of 56.38, a price-to-earnings-growth ratio of 4.16 and a beta of 1.32.

Cintas shares are going to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, September 11th.

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

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $1.56 dividend. This is an increase from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s payout ratio is currently 43.09%.

Cintas declared that its board has approved a stock repurchase plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director Gerald S. Adolph sold 1,100 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the sale, the director now directly owns 31,452 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Cintas

Several institutional investors have recently bought and sold shares of CTAS. Norges Bank bought a new stake in shares of Cintas in the 4th quarter worth about $872,895,000. Clearbridge Investments LLC grew its position in Cintas by 475.7% in the fourth quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock worth $180,423,000 after acquiring an additional 247,378 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after acquiring an additional 201,955 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Cintas by 711.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock valued at $91,915,000 after purchasing an additional 133,713 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in shares of Cintas in the 1st quarter valued at approximately $84,646,000. 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.