Cintas (NASDAQ:CTAS) Reaches New 12-Month High at $519.50

Cintas Co. (NASDAQ:CTAS) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $519.50 and last traded at $517.90, with a volume of 14376 shares changing hands. The stock had previously closed at $514.79.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTAS. Deutsche Bank Aktiengesellschaft upped their target price on Cintas from $524.00 to $542.00 in a research report on Monday, July 10th. Stifel Nicolaus increased their price objective on shares of Cintas from $512.00 to $521.00 in a research report on Friday, July 14th. Morgan Stanley boosted their target price on shares of Cintas from $419.00 to $441.00 and gave the stock an “equal weight” rating in a research report on Friday, July 14th. Citigroup cut shares of Cintas from a “buy” rating to a “neutral” rating and raised their price target for the stock from $540.00 to $550.00 in a report on Monday, July 24th. Finally, UBS Group boosted their price objective on shares of Cintas from $550.00 to $575.00 in a report on Friday, July 14th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cintas currently has an average rating of “Moderate Buy” and an average price target of $528.07.

Cintas Price Performance

The company has a market capitalization of $52.91 billion, a price-to-earnings ratio of 39.66, a P/E/G ratio of 3.23 and a beta of 1.31. The firm has a 50-day simple moving average of $497.60 and a two-hundred day simple moving average of $474.53. The company has a current ratio of 2.39, a quick ratio of 1.98 and a debt-to-equity ratio of 0.64.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, July 13th. The business services provider reported $3.33 EPS for the quarter, topping the consensus estimate of $3.19 by $0.14. Cintas had a return on equity of 38.09% and a net margin of 15.29%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the company earned $2.81 earnings per share. Cintas’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts predict that Cintas Co. will post 14.18 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.04%. This is a positive change from Cintas’s previous quarterly dividend of $1.15. The ex-dividend date is Monday, August 14th. Cintas’s payout ratio is 41.60%.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 2,686 shares of Cintas stock in a transaction on Friday, July 14th. The shares were sold at an average price of $496.25, for a total value of $1,332,927.50. Following the completion of the transaction, the director now owns 30,066 shares of the company’s stock, valued at $14,920,252.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Michael Lawrence Thompson sold 5,050 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $498.35, for a total value of $2,516,667.50. Following the completion of the transaction, the chief accounting officer now owns 27,326 shares of the company’s stock, valued at approximately $13,617,912.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald S. Adolph sold 2,686 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $496.25, for a total value of $1,332,927.50. Following the completion of the sale, the director now directly owns 30,066 shares in the company, valued at $14,920,252.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,820 shares of company stock valued at $4,926,731. Corporate insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CTAS. Quarry LP lifted its holdings in Cintas by 221.1% during the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 42 shares in the last quarter. Fiduciary Alliance LLC purchased a new position in Cintas in the 2nd quarter valued at about $29,000. Newbridge Financial Services Group Inc. lifted its stake in Cintas by 321.4% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 45 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Cintas during the 1st quarter worth approximately $36,000. Finally, Arlington Partners LLC increased its stake in Cintas by 1,700.0% during the 2nd quarter. Arlington Partners LLC now owns 72 shares of the business services provider’s stock worth $36,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 62.26% of the company’s stock.

Cintas Company Profile

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.