Cintas (NASDAQ:CTAS) Reaches New 52-Week High - Here's What Happened

Key Points

• Cintas shares reached a new 52-week high of $219.46, up 1.4% during the session, giving the company a market capitalization of approximately $87.35 billion.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $218.50; individual targets range as high as $250.
• Cintas reported quarterly earnings and revenue above expectations, with EPS of $1.39 and revenue of $3.01 billion, while revenue increased 10.9% year over year. The company also raised its quarterly dividend to $0.52 per share, an annualized yield of 0.9%.

Cintas Corporation (NASDAQ:CTAS - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $219.46 and last traded at $219.1470, with a volume of 533,674 shares changing hands. The stock had previously closed at $217.03.

Wall Street Analyst Weigh In

CTAS has been the topic of several analyst reports. Weiss Ratings upgraded shares of Cintas from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 9th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Cintas in a research note on Thursday, September 10th. Robert W. Baird set a $222.00 target price on Cintas and gave the stock an "outperform" rating in a research note on Thursday, September 24th. Bank of America upgraded Cintas from a "neutral" rating to a "buy" rating and raised their price target for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $218.50.

Cintas Stock Up 1.4%

The stock has a 50-day moving average price of $201.42 and a 200-day moving average price of $187.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29. The company has a market capitalization of $87.35 billion, a P/E ratio of 43.39, a P/E/G ratio of 3.37 and a beta of 0.92.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.04. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. Cintas's revenue for the quarter was up 10.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, research analysts predict that Cintas Corporation will post 5.53 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.9%. This is a positive change from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 14th. Cintas's dividend payout ratio is currently 41.03%.

Institutional Trading of Cintas

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sowell Financial Services LLC acquired a new position in Cintas in the 3rd quarter worth about $217,000. 365 WMG Private Fund I Primus Fund LLC acquired a new position in shares of Cintas during the 3rd quarter worth about $630,000. Quadrant Capital Group LLC lifted its stake in Cintas by 0.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 22,751 shares of the business services provider's stock valued at $4,695,000 after buying an additional 117 shares in the last quarter. Cushing Capital Partners LLC lifted its stake in Cintas by 3.9% in the 3rd quarter. Cushing Capital Partners LLC now owns 4,551 shares of the business services provider's stock valued at $888,000 after buying an additional 170 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Cintas by 4.7% during the third quarter. Pinnacle Associates Ltd. now owns 1,462 shares of the business services provider's stock valued at $285,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Cintas Company Profile

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.

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