Cintas (NASDAQ:CTAS) Sets New 52-Week High – Here’s Why

Cintas Co. (NASDAQ:CTAS) shares reached a new 52-week high on Wednesday . The company traded as high as $216.00 and last traded at $215.01, with a volume of 73528 shares. The stock had previously closed at $208.99.

Analyst Ratings Changes

Several brokerages recently weighed in on CTAS. Robert W. Baird increased their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada increased their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Finally, Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 1.2 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm’s fifty day simple moving average is $218.46 and its 200 day simple moving average is $192.79. The stock has a market capitalization of $88.53 billion, a price-to-earnings ratio of 55.43, a P/E/G ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 EPS. On average, sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas’s payout ratio is presently 39.39%.

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

Institutional Trading of Cintas

A number of institutional investors have recently made changes to their positions in the business. LGT Financial Advisors LLC increased its stake in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Cintas by 341.4% in 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 in the last quarter. Hollencrest Capital Management increased 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 during the last quarter. Atwood & Palmer Inc. bought a new stake in Cintas during the second quarter worth about $27,000. Finally, Addison Advisors LLC boosted its position in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

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.