Cintas (NASDAQ:CTAS) Sets New 12-Month High - Here's What Happened

Shares of Cintas Co. (NASDAQ:CTAS - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $228.66 and last traded at $228.34, with a volume of 503047 shares. The stock had previously closed at $227.58.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research note on Thursday, May 1st. Argus raised Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. UBS Group raised their price objective on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 price objective on shares of Cintas in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $213.88.

Cintas Price Performance

The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $211.89 and a two-hundred day moving average price of $205.52. The stock has a market capitalization of $91.90 billion, a P/E ratio of 54.87, a P/E/G ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the company earned $3.84 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. On average, analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas's payout ratio is 36.11%.

Insider Buying and Selling

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC boosted its position in Cintas by 3.9% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock worth $258,000 after purchasing an additional 47 shares during the last quarter. Oarsman Capital Inc. boosted its position in Cintas by 3.9% in the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider's stock worth $272,000 after purchasing an additional 49 shares during the last quarter. MJP Associates Inc. ADV boosted its position in Cintas by 2.1% in the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after purchasing an additional 50 shares during the last quarter. Truvestments Capital LLC lifted its position in shares of Cintas by 17.4% during the 1st quarter. Truvestments Capital LLC now owns 338 shares of the business services provider's stock valued at $69,000 after buying an additional 50 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its position in shares of Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock valued at $266,000 after buying an additional 51 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

About Cintas

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.