Cintas (NASDAQ:CTAS) Sets New 1-Year High on Earnings Beat

Cintas Co. (NASDAQ:CTAS)’s stock price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $669.00 and last traded at $669.00, with a volume of 10949 shares changing hands. The stock had previously closed at $633.40.

The business services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the firm posted $3.14 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were paid a $1.35 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.79%. Cintas’s payout ratio is 39.19%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America raised their price objective on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird lifted their price objective on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. UBS Group boosted their price objective on Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barclays boosted their target price on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $649.60.

Hedge Funds Weigh In On Cintas

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its stake in Cintas by 221.1% in the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 42 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in shares of Cintas by 113.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after purchasing an additional 26 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after buying an additional 19 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Cintas in the first quarter valued at $36,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of Cintas in the third quarter valued at about $39,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 0.2 %

The firm has a market cap of $69.64 billion, a price-to-earnings ratio of 49.86, a price-to-earnings-growth ratio of 3.67 and a beta of 1.27. The company’s 50-day moving average price is $620.99 and its 200-day moving average price is $567.53. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.62.

Cintas Company Profile

Cintas Corporation provides 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.