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

Key Points

• Cintas shares hit a 52-week high of $228.15, rising 2.5% during trading.
• The company beat quarterly estimates, reporting EPS of $1.39 versus $1.35 expected and revenue of $3.01 billion, up 10.9% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $218.62; Cintas also declared a quarterly dividend of $0.52 per share.

Cintas Corporation (NASDAQ:CTAS - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday. The company traded as high as $228.15 and last traded at $227.5560, with a volume of 213,164 shares traded. The stock had previously closed at $223.74.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America reissued a "buy" rating and issued a $232.00 target price on shares of Cintas in a research note on Thursday, October 29th. Sanford C. Bernstein reissued a "market perform" rating on shares of Cintas in a research report on Thursday, September 10th. Truist Financial raised their price target on shares of Cintas from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, September 24th. Jefferies Financial Group lifted their price objective on Cintas from $200.00 to $210.00 and gave the company a "hold" rating in a report on Thursday, July 16th. Finally, Rothschild & Co Redburn upped their price objective on Cintas from $184.00 to $198.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.62.

Cintas Trading Up 2.5%

The firm has a market cap of $91.04 billion, a P/E ratio of 45.11, a price-to-earnings-growth ratio of 3.56 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The company's fifty day moving average price is $205.20 and its two-hundred day moving average price is $190.81.

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

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 13th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. Cintas's payout ratio is currently 41.03%.

Institutional Trading of Cintas

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Cintas in the second quarter valued at about $4,520,425,000. Bank of New York Mellon Corp acquired a new position in Cintas during the second quarter valued at approximately $644,334,000. Legal & General Group Plc acquired a new position in Cintas during the second quarter valued at approximately $386,159,000. Bank of America Corp DE acquired a new position in Cintas during the second quarter valued at approximately $233,111,000. Finally, Deutsche Bank AG bought a new position in Cintas in the second quarter valued at approximately $204,831,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

About Cintas

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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