Cintas (NASDAQ:CTAS) Reaches New 52-Week High at $705.74

Cintas Co. (NASDAQ:CTAS) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $705.74 and last traded at $701.30, with a volume of 20573 shares. The stock had previously closed at $701.79.

Analyst Ratings Changes

Several research firms recently issued reports on CTAS. Deutsche Bank Aktiengesellschaft increased their target price on Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Robert W. Baird upped their price target on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Barclays upped their price target on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada upped their price target on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The firm has a 50-day simple moving average of $669.74 and a two-hundred day simple moving average of $616.45. The company has a market cap of $71.30 billion, a PE ratio of 48.47, a P/E/G ratio of 3.89 and a beta of 1.27.

Cintas’s stock is set to split 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 market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.14 earnings per share. Research analysts anticipate that Cintas Co. will post 14.95 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s payout ratio is currently 37.29%.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 1,318 shares of Cintas stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total value of $914,309.78. Following the transaction, the chief operating officer now owns 59,770 shares in the company, valued at $41,463,046.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ronald W. Tysoe sold 2,291 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $693.95, for a total value of $1,589,839.45. Following the completion of the sale, the director now owns 6,655 shares of the company’s stock, valued at $4,618,237.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jim Rozakis sold 1,318 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total value of $914,309.78. Following the completion of the sale, the chief operating officer now directly owns 59,770 shares of the company’s stock, valued at approximately $41,463,046.70. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after purchasing an additional 112,361 shares during the last quarter. FMR LLC boosted its holdings in Cintas by 5.5% in the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after purchasing an additional 123,468 shares during the last quarter. Norges Bank purchased a new position in Cintas in the fourth quarter valued at about $872,895,000. Invesco Ltd. boosted its holdings in Cintas by 17.4% in the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after purchasing an additional 151,783 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Cintas by 7.6% in the third quarter. Northern Trust Corp now owns 1,008,632 shares of the business services provider’s stock valued at $485,162,000 after purchasing an additional 71,482 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

Cintas Corporation provides 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.