Cintas (NASDAQ:CTAS) Sets New 1-Year High on Earnings Beat

Cintas Co. (NASDAQ:CTAS) shares reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $669.00 and last traded at $669.00, with a volume of 10949 shares traded. The stock had previously closed at $633.40.

The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the business posted $3.14 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were given a dividend of $1.35 per share. The ex-dividend date was Wednesday, February 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.79%. Cintas’s dividend payout ratio (DPR) is presently 39.19%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CTAS shares. JPMorgan Chase & Co. boosted their price target on Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, December 22nd. Truist Financial boosted their price target on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada boosted their price objective on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cintas currently has an average rating of “Moderate Buy” and an average target price of $649.60.

Hedge Funds Weigh In On Cintas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its holdings in shares of Cintas by 221.1% in the 1st 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. Janiczek Wealth Management LLC raised its holdings in shares of Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 26 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in Cintas by 33.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after acquiring an additional 19 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Cintas during the 1st quarter worth $36,000. Finally, Clearstead Advisors LLC acquired a new stake in Cintas during the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

The company’s 50 day moving average is $620.99 and its 200 day moving average is $567.53. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $69.64 billion, a price-to-earnings ratio of 49.86, a price-to-earnings-growth ratio of 3.67 and a beta of 1.27.

About Cintas

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.