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

Cintas Co. (NASDAQ:CTAS)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $228.12 and last traded at $226.47, with a volume of 1365344 shares changing hands. The stock had previously closed at $223.90.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CTAS shares. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group lowered their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Performance

The stock has a market capitalization of $91.34 billion, a P/E ratio of 56.54, a PEG ratio of 4.37 and a beta of 1.32. The stock’s 50-day simple moving average is $211.02 and its 200 day simple moving average is $197.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business earned $3.70 EPS. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Institutional Trading of Cintas

Institutional investors have recently bought and sold shares of the business. LGT Financial Advisors LLC increased its position in shares of Cintas by 311.1% in the second 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 period. Financial Management Professionals Inc. increased its holdings in 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 buying an additional 99 shares during the period. Hollencrest Capital Management raised its position 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 buying an additional 104 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Cintas in the 2nd quarter valued at approximately $27,000. Finally, Addison Advisors LLC lifted its holdings in shares of Cintas by 495.7% during the 3rd 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 period. 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.