Cintas (NASDAQ:CTAS) Hits New 1-Year High at $719.98

Cintas Co. (NASDAQ:CTASGet Free Report)’s share price reached a new 52-week high on Tuesday . The company traded as high as $719.98 and last traded at $711.00, with a volume of 17726 shares. The stock had previously closed at $708.51.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CTAS shares. Truist Financial boosted their target price on shares of Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. UBS Group increased their price objective on shares of Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Oppenheimer reissued a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. Finally, Citigroup lowered shares of Cintas from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $530.00 to $570.00 in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $664.07.

Check Out Our Latest Stock Report on CTAS

Cintas Trading Down 0.1 %

The firm has a market capitalization of $72.06 billion, a PE ratio of 49.10, a price-to-earnings-growth ratio of 3.59 and a beta of 1.31. The stock’s 50-day moving average price is $683.70 and its 200 day moving average price is $640.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03.

Cintas’s stock is scheduled to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTASGet Free Report) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm earned $3.14 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts expect that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $5.40 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is 37.29%.

Insider Buying and Selling at Cintas

In other Cintas news, COO Jim Rozakis sold 1,318 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 in the company, valued at $41,463,046.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ronald W. Tysoe sold 2,291 shares of Cintas stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total transaction of $1,589,839.45. Following the completion of the sale, the director now directly owns 6,655 shares in the company, valued at $4,618,237.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $914,309.78. Following the sale, the chief operating officer now owns 59,770 shares of the company’s stock, valued at $41,463,046.70. The disclosure for this sale can be found here. 14.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Cintas

Institutional investors and hedge funds have recently made changes to their positions in the stock. Simplicity Solutions LLC raised its holdings in shares of Cintas by 117.7% during the fourth quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock worth $1,943,000 after purchasing an additional 1,743 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Cintas during the fourth quarter worth $8,015,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cintas by 91.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,642 shares of the business services provider’s stock worth $29,315,000 after purchasing an additional 23,197 shares during the last quarter. Comerica Bank purchased a new position in shares of Cintas during the third quarter worth $10,866,000. Finally, Nordea Investment Management AB raised its holdings in shares of Cintas by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after purchasing an additional 85,662 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Company Profile

(Get Free Report)

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.

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