Algebris UK Ltd. bought a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,365 shares of the business services provider's stock, valued at approximately $1,079,000.
Several other institutional investors have also recently made changes to their positions in CTAS. BlackRock Inc. purchased a new stake in Cintas in the second quarter worth $4,520,425,000. Norges Bank bought a new stake in shares of Cintas during the 4th quarter valued at $923,672,000. Bank of New York Mellon Corp purchased a new stake in shares of Cintas in the 2nd quarter worth about $644,334,000. Deutsche Bank AG purchased a new stake in shares of Cintas in the 2nd quarter worth about $204,831,000. Finally, Two Sigma Investments LP grew its position in shares of Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider's stock worth $208,682,000 after buying an additional 998,963 shares during the period. Institutional investors own 63.46% of the company's stock.
Cintas Stock Performance
CTAS stock opened at $203.52 on Friday. The stock's 50 day simple moving average is $190.61 and its 200 day simple moving average is $184.95. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The stock has a market capitalization of $81.44 billion, a PE ratio of 54.42, a price-to-earnings-growth ratio of 3.28 and a beta of 0.92.
Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results 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 business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.
Cintas Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a boost from Cintas's previous quarterly dividend of $0.45. Cintas's payout ratio is 55.61%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CTAS shares. Robert W. Baird lifted their price target on shares of Cintas from $200.00 to $214.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. The Goldman Sachs Group restated a "buy" rating and issued a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. UBS Group reaffirmed a "buy" rating and set a $230.00 target price (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Bank of America upgraded shares of Cintas from a "neutral" rating to a "buy" rating and lifted their target price for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $212.31.
Check Out Our Latest Research Report on Cintas
Cintas 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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