Advisors Capital Management LLC purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,219 shares of the business services provider's stock, valued at approximately $888,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MJP Associates Inc. ADV purchased a new position in shares of Cintas in the second quarter valued at $371,000. PCM Encore LLC acquired a new stake in Cintas during the 2nd quarter valued at $591,000. Vise Technologies Inc. purchased a new stake in Cintas during the 2nd quarter worth $6,690,000. Algebris UK Ltd. acquired a new position in Cintas in the 2nd quarter worth $1,079,000. Finally, E Fund Management Co. Ltd. acquired a new position in Cintas in the 2nd quarter worth $2,613,000. Hedge funds and other institutional investors own 63.46% of the company's stock.
Analyst Upgrades and Downgrades
CTAS has been the subject of several recent analyst reports. Royal Bank Of Canada restated a "sector perform" rating and set a $206.00 target price on shares of Cintas in a research note on Thursday, July 16th. UBS Group reiterated a "buy" rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Argus raised Cintas to a "strong-buy" rating in a report on Friday, July 17th. Wells Fargo & Company restated an "overweight" rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Bank of America upgraded Cintas from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cintas has a consensus rating of "Moderate Buy" and a consensus target price of $212.31.
Get Our Latest Analysis on Cintas
Cintas Trading Up 0.1%
NASDAQ:CTAS opened at $203.79 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The business's 50 day moving average is $191.16 and its two-hundred day moving average is $185.08. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The company has a market cap of $81.55 billion, a PE ratio of 54.49, a P/E/G ratio of 3.29 and a beta of 0.92.
Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm's revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, analysts predict that Cintas Corporation will post 5.49 EPS for the current year.
Cintas Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 14th. This is an increase from Cintas's previous quarterly dividend of $0.45. Cintas's dividend payout ratio (DPR) is currently 55.61%.
Cintas Company Profile
(
Free Report)
Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
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