Cintas (NASDAQ:CTAS) Stock Price Down 6.4% – Here’s Why

Cintas Corporation (NASDAQ:CTAS) fell 6.4% during mid-day trading on Tuesday. The company traded as low as $209.48 and last traded at $211.4650. 1,402,022 shares changed hands during trading, a decline of 33% from the average daily volume of 2,101,828 shares. The stock had previously closed at $225.93.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of Cintas from $200.00 to $210.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Argus lifted their price target on Cintas from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. Citigroup boosted their price objective on Cintas from $180.00 to $181.00 and gave the stock a “sell” rating in a report on Wednesday, September 30th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research note on Thursday, September 24th. Finally, UBS Group reissued a “buy” rating and issued a $235.00 price objective (up from $230.00) on shares of Cintas in a research note on Thursday, September 24th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cintas has a consensus rating of “Moderate Buy” and a consensus price target of $218.62.

Cintas Stock Down 0.9%

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 firm has a market capitalization of $84.50 billion, a P/E ratio of 41.97, a P/E/G ratio of 3.55 and a beta of 0.92. The stock’s 50-day simple moving average is $203.83 and its 200-day simple moving average is $190.25.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, research analysts predict that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, November 13th. Cintas’s payout ratio is presently 41.03%.

Hedge Funds Weigh In On Cintas

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Cintas in the 3rd quarter worth about $54,993,000. Vise Technologies Inc. boosted its stake in Cintas by 11.1% during the third quarter. Vise Technologies Inc. now owns 43,709 shares of the business services provider’s stock worth $8,526,000 after acquiring an additional 4,377 shares in the last quarter. Cidel Asset Management Inc. boosted its stake in Cintas by 8.4% during the third quarter. Cidel Asset Management Inc. now owns 1,328 shares of the business services provider’s stock worth $259,000 after acquiring an additional 103 shares in the last quarter. Invera Wealth Advisors LLC boosted its position in shares of Cintas by 5.3% in the 3rd quarter. Invera Wealth Advisors LLC now owns 2,382 shares of the business services provider’s stock worth $465,000 after purchasing an additional 119 shares in the last quarter. Finally, MGO One Seven LLC grew its stake in shares of Cintas by 2.3% in the 3rd quarter. MGO One Seven LLC now owns 7,719 shares of the business services provider’s stock worth $1,506,000 after buying an additional 173 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

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.