Cintas (NASDAQ:CTAS) Hits New 52-Week High – Here’s What Happened

Cintas Corporation (NASDAQ:CTAS) hit a new 52-week high during trading on Wednesday. The company traded as high as $219.46 and last traded at $219.1470, with a volume of 533,674 shares changing hands. The stock had previously closed at $217.03.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings raised Cintas from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cintas in a research report on Thursday, September 10th. UBS Group restated a “buy” rating and issued a $235.00 target price (up from $230.00) on shares of Cintas in a research report on Thursday, September 24th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Finally, Argus increased their price objective on shares of Cintas from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $218.50.

Cintas Stock Up 1.4%

The business has a 50-day simple moving average of $201.42 and a 200-day simple moving average of $187.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45. The company has a market cap of $87.35 billion, a price-to-earnings ratio of 43.39, a price-to-earnings-growth ratio of 3.37 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, equities analysts anticipate that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 0.9%. Cintas’s dividend payout ratio (DPR) is presently 41.03%.

Institutional Investors Weigh In On Cintas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AMG National Trust Bank acquired a new position in Cintas during the second quarter worth approximately $1,973,000. Summit Global Investments purchased a new position in shares of Cintas during the second quarter worth about $950,000. TimesSquare Capital Management LLC purchased a new position in shares of Cintas during the 2nd quarter worth approximately $62,057,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cintas during the 2nd quarter worth $4,972,000. Finally, BlackRock Inc. acquired a new position in Cintas during the second quarter worth about $4,520,425,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Company Profile

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.