Other research analysts also recently issued reports about the company. Morgan Stanley raised their price objective on Cintas from $217.00 to $223.00 and gave the company an underweight rating in a research note on Thursday, October 10th. Credit Suisse Group raised their price objective on Cintas from $195.00 to $225.00 and gave the company a neutral rating in a research note on Wednesday, September 25th. ValuEngine downgraded Cintas from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised their price objective on Cintas from $267.00 to $275.00 and gave the company an outperform rating in a research note on Wednesday, September 25th. Finally, Zacks Investment Research raised Cintas from a hold rating to a buy rating and set a $280.00 price objective on the stock in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $262.40.
Shares of NASDAQ:CTAS traded down $1.12 during midday trading on Friday, reaching $260.88. The company had a trading volume of 630,000 shares, compared to its average volume of 519,670. The company has a fifty day simple moving average of $265.44 and a two-hundred day simple moving average of $247.67. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.74 and a current ratio of 2.04. Cintas has a 1-year low of $155.98 and a 1-year high of $277.85. The firm has a market cap of $27.63 billion, a price-to-earnings ratio of 34.33, a price-to-earnings-growth ratio of 3.00 and a beta of 0.99.
The firm also recently announced an annual dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $2.55 dividend. The ex-dividend date of this dividend is Thursday, November 7th. Cintas’s dividend payout ratio (DPR) is currently 26.97%.
Cintas announced that its board has initiated a share buyback plan on Tuesday, October 29th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other Cintas news, CAO Michael Lawrence Thompson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $268.23, for a total value of $536,460.00. Following the sale, the chief accounting officer now owns 62,906 shares of the company’s stock, valued at approximately $16,873,276.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eads & Heald Wealth Management grew its holdings in Cintas by 1.8% in the 3rd quarter. Eads & Heald Wealth Management now owns 2,248 shares of the business services provider’s stock valued at $603,000 after buying an additional 39 shares during the last quarter. Lenox Wealth Management Inc. grew its holdings in shares of Cintas by 20.5% during the 2nd quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock worth $55,000 after purchasing an additional 40 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Cintas by 1.6% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 2,755 shares of the business services provider’s stock worth $654,000 after purchasing an additional 44 shares in the last quarter. D.B. Root & Company LLC grew its holdings in shares of Cintas by 2.7% during the 2nd quarter. D.B. Root & Company LLC now owns 1,916 shares of the business services provider’s stock worth $454,000 after purchasing an additional 50 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Cintas by 1.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,833 shares of the business services provider’s stock worth $672,000 after purchasing an additional 50 shares in the last quarter. 67.04% of the stock is currently owned by hedge funds and other institutional investors.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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