Cintas (NASDAQ:CTAS) Trading Down 0.2%

Cintas Co. (NASDAQ:CTAS)’s stock price fell 0.2% during mid-day trading on Friday . The stock traded as low as $762.01 and last traded at $766.15. 48,344 shares were traded during mid-day trading, a decline of 87% from the average session volume of 371,352 shares. The stock had previously closed at $767.74.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTAS. Truist Financial upped their target price on Cintas from $775.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Company raised Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Stifel Nicolaus upped their target price on Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a research report on Friday, July 19th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Finally, Citigroup downgraded Cintas from a “neutral” rating to a “sell” rating and upped their target price for the company from $530.00 to $570.00 in a research report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $742.36.

Cintas Stock Performance

The stock has a fifty day simple moving average of $729.36 and a two-hundred day simple moving average of $680.92. The stock has a market cap of $77.60 billion, a price-to-earnings ratio of 52.82, a P/E/G ratio of 4.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74.

Shares of Cintas are going to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be distributed to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 EPS. Analysts expect that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Thursday, August 15th. This is an increase from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio (DPR) is currently 43.09%.

Cintas declared that its Board of Directors has approved a share buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Gerald S. Adolph sold 1,100 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the transaction, the director now directly owns 31,452 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LGT Financial Advisors LLC raised its position in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Cintas during the 2nd quarter worth $27,000. Pathway Financial Advisers LLC bought a new position in Cintas during the 1st quarter worth $29,000. Rise Advisors LLC bought a new position in Cintas during the 1st quarter worth $30,000. Finally, Meeder Asset Management Inc. raised its position in Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.