Cintas (NASDAQ:CTAS) Hits New 1-Year Low – Here’s What Happened

Cintas Corporation (NASDAQ:CTAS)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $178.78 and last traded at $179.1230, with a volume of 898848 shares trading hands. The stock had previously closed at $185.44.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group reissued a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Wells Fargo & Company raised shares of Cintas from a “cautious” rating to an “overweight” rating and increased their price target for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Morgan Stanley dropped their price target on Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings raised Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Argus upgraded Cintas to a “strong-buy” rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $220.25.

Cintas Trading Down 1.4%

The company’s 50 day moving average price is $194.95 and its two-hundred day moving average price is $192.63. The firm has a market cap of $71.72 billion, a PE ratio of 52.29, a P/E/G ratio of 3.28 and a beta of 0.95. The company has a quick ratio of 1.49, a current ratio of 1.71 and a debt-to-equity ratio of 0.54.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 18th. The business services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Cintas had a net margin of 17.58% and a return on equity of 41.07%. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were issued a $0.45 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 52.48%.

Institutional Investors Weigh In On Cintas

Several large investors have recently added to or reduced their stakes in CTAS. Nemes Rush Group LLC purchased a new stake in shares of Cintas in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new position in Cintas during the 4th quarter worth $25,000. Kemnay Advisory Services Inc. bought a new stake in Cintas during the 4th quarter valued at $26,000. Triumph Capital Management bought a new stake in Cintas during the 3rd quarter valued at $29,000. Finally, Camelot Portfolios LLC purchased a new stake in shares of Cintas in the 4th quarter worth $26,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.