Diversify Advisory Services LLC purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,268 shares of the business services provider’s stock, valued at approximately $3,010,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new position in Cintas in the 4th quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in shares of Cintas during the fourth quarter worth $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Cintas in the fourth quarter valued at about $26,000. Camelot Portfolios LLC acquired a new stake in shares of Cintas in the fourth quarter valued at about $26,000. Finally, Triumph Capital Management acquired a new stake in shares of Cintas in the third quarter valued at about $29,000. 63.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on CTAS shares. UBS Group restated a “buy” rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research note on Thursday, July 16th. Finally, Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.31.
Cintas Stock Up 0.8%
Shares of CTAS opened at $199.45 on Wednesday. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $219.87. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $189.72 and a two-hundred day simple moving average of $184.77. The company has a market capitalization of $79.81 billion, a PE ratio of 53.33, a price-to-earnings-growth ratio of 3.22 and a beta of 0.91.
Cintas (NASDAQ:CTAS – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the company posted $1.09 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities analysts forecast that Cintas Corporation will post 5.49 EPS for the current year.
Cintas Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is presently 55.61%.
Cintas Profile
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.
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