Cintas (NASDAQ:CTAS) Reaches New 52-Week High at $411.48

Cintas Co. (NASDAQ:CTAS)’s share price hit a new 52-week high on Thursday . The company traded as high as $411.48 and last traded at $410.87, with a volume of 722 shares changing hands. The stock had previously closed at $405.33.

Several analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Cintas from $387.00 to $411.00 and gave the stock a “buy” rating in a research note on Tuesday, June 22nd. Royal Bank of Canada initiated coverage on shares of Cintas in a report on Thursday, September 2nd. They set an “outperform” rating and a $450.00 price objective on the stock. Morgan Stanley cut their price target on shares of Cintas from $368.00 to $365.00 and set an “equal weight” rating on the stock in a report on Thursday, September 30th. Credit Suisse Group boosted their price objective on shares of Cintas from $350.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, July 16th. Finally, Bank of America upped their price objective on shares of Cintas from $383.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, September 30th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Cintas presently has an average rating of “Buy” and an average target price of $401.78.

The business’s 50-day simple moving average is $394.54 and its two-hundred day simple moving average is $373.82. The stock has a market cap of $42.53 billion, a price-to-earnings ratio of 39.58, a price-to-earnings-growth ratio of 3.95 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.47 and a quick ratio of 1.22.

Cintas (NASDAQ:CTAS) last released its earnings results on Tuesday, September 28th. The business services provider reported $3.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.35. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Cintas had a net margin of 15.61% and a return on equity of 30.22%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.78 earnings per share. Equities research analysts forecast that Cintas Co. will post 10.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Friday, August 13th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 0.92%. This is a positive change from Cintas’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, August 12th. Cintas’s dividend payout ratio (DPR) is presently 37.11%.

In related news, Director Melanie W. Barstad sold 3,011 shares of the company’s stock in a transaction dated Thursday, October 7th. The shares were sold at an average price of $398.56, for a total value of $1,200,064.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas E. Frooman sold 16,904 shares of the company’s stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $392.46, for a total transaction of $6,634,143.84. Following the transaction, the senior vice president now owns 96,357 shares in the company, valued at approximately $37,816,268.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,142 shares of company stock worth $15,705,343. Insiders own 15.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Beacon Capital Management Inc. purchased a new stake in shares of Cintas in the third quarter valued at $57,000. Veracity Capital LLC lifted its holdings in Cintas by 3.3% during the 3rd quarter. Veracity Capital LLC now owns 4,951 shares of the business services provider’s stock worth $1,885,000 after buying an additional 160 shares during the last quarter. Welch & Forbes LLC raised its position in shares of Cintas by 0.4% during the 3rd quarter. Welch & Forbes LLC now owns 47,848 shares of the business services provider’s stock worth $18,213,000 after purchasing an additional 180 shares during the period. Stonnington Group LLC increased its position in shares of Cintas by 9.9% during the 3rd quarter. Stonnington Group LLC now owns 1,665 shares of the business services provider’s stock valued at $671,000 after purchasing an additional 150 shares during the period. Finally, Pensionfund DSM Netherlands bought a new stake in shares of Cintas during the 3rd quarter worth $647,000. Hedge funds and other institutional investors own 63.62% of the company’s stock.

About Cintas (NASDAQ:CTAS)

Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.

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