Cintas (NASDAQ:CTAS) Reaches New 1-Year High at $411.48

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

A number of brokerages recently issued reports on CTAS. Bank of America raised their price objective on Cintas from $383.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, September 30th. Robert W. Baird reissued a “buy” rating on shares of Cintas in a research note on Wednesday, September 15th. Morgan Stanley reduced their price objective on Cintas from $368.00 to $365.00 and set an “equal weight” rating for the company in a research report on Thursday, September 30th. Barclays raised their target price on Cintas from $405.00 to $415.00 and gave the company an “overweight” rating in a report on Friday, July 16th. Finally, Credit Suisse Group boosted their price target on Cintas from $350.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, July 16th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cintas has an average rating of “Buy” and a consensus target price of $401.78.

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

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Tuesday, September 28th. The business services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.35. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Cintas had a net margin of 15.61% and a return on equity of 30.22%. Cintas’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $2.78 EPS. On average, analysts forecast that Cintas Co. will post 10.69 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 13th were paid a dividend of $0.95 per share. This is a positive change from Cintas’s previous quarterly dividend of $0.75. This represents a $3.80 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, August 12th. Cintas’s payout ratio is currently 37.11%.

In other Cintas news, Director Melanie W. Barstad sold 3,011 shares of the company’s stock in a transaction dated Thursday, October 7th. The stock was sold at an average price of $398.56, for a total transaction of $1,200,064.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas E. Frooman sold 16,904 shares of the stock in a transaction dated Thursday, July 29th. The stock was 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 of the company’s stock, valued at $37,816,268.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,142 shares of company stock worth $15,705,343. Corporate insiders own 15.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CTAS. E Fund Management Co. Ltd. purchased a new position in Cintas in the first quarter valued at about $414,000. JPMorgan Chase & Co. increased its holdings in shares of Cintas by 0.3% in the 1st quarter. JPMorgan Chase & Co. now owns 253,825 shares of the business services provider’s stock worth $86,633,000 after buying an additional 760 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Cintas by 0.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,034 shares of the business services provider’s stock worth $3,766,000 after buying an additional 53 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Cintas by 24.3% in the 1st quarter. Prudential Financial Inc. now owns 98,737 shares of the business services provider’s stock valued at $33,699,000 after purchasing an additional 19,311 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its stake in shares of Cintas by 97.7% in the 1st quarter. Cresset Asset Management LLC now owns 2,981 shares of the business services provider’s stock valued at $1,017,000 after purchasing an additional 1,473 shares in the last quarter. 63.62% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Article: Market Timing

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.