Cintas (NASDAQ:CTAS) Sets New 52-Week High – What’s Next?

Cintas Co. (NASDAQ:CTAS)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $216.00 and last traded at $215.01, with a volume of 73528 shares traded. The stock had previously closed at $208.99.

Analysts Set New Price Targets

CTAS has been the topic of several research analyst reports. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Up 3.8 %

The firm has a 50-day moving average price of $218.11 and a two-hundred day moving average price of $192.62. The company has a market capitalization of $87.53 billion, a price-to-earnings ratio of 52.78, a PEG ratio of 4.05 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.70 EPS. As a group, sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s payout ratio is presently 39.39%.

Cintas declared that its board has authorized a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Cintas

Large investors have recently made changes to their positions in the stock. LGT Financial Advisors LLC raised its position in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Cintas in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas in the 1st quarter valued at about $29,000. Meeder Asset Management Inc. increased its position in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after buying an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC increased its position in Cintas by 133.3% during the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.