Cintas (NASDAQ:CTAS) Reaches New 12-Month Low – What’s Next?

Cintas Corporation (NASDAQ:CTAS)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $164.60 and last traded at $165.5750, with a volume of 76172 shares. The stock had previously closed at $166.97.

Analyst Ratings Changes

A number of research firms recently weighed in on CTAS. Argus upgraded shares of Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. Citigroup decreased their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Bank of America started coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cintas has an average rating of “Hold” and an average price target of $215.17.

Cintas Price Performance

The firm’s 50-day moving average price is $181.83 and its 200-day moving average price is $186.85. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $65.64 billion, a PE ratio of 46.33, a PEG ratio of 2.94 and a beta of 0.96.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. On average, equities analysts forecast that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, May 15th. Cintas’s dividend payout ratio is currently 50.85%.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 14.90% of the company’s stock.

Hedge Funds Weigh In On Cintas

Hedge funds have recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Cintas by 2.7% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider’s stock worth $20,501,000 after acquiring an additional 2,628 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Cintas by 2.5% in the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after purchasing an additional 10,249 shares during the period. Prana Capital Management LP purchased a new stake in shares of Cintas in the 3rd quarter worth approximately $14,312,000. Vanguard Group Inc. lifted its position in shares of Cintas by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after purchasing an additional 564,487 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Cintas in the 4th quarter worth approximately $15,736,000. 63.46% of the stock is currently owned by institutional investors.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.