Cintas (NASDAQ:CTAS) Hits New 12-Month High at $721.40

Cintas Co. (NASDAQ:CTAS)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $721.40 and last traded at $716.57, with a volume of 45425 shares traded. The stock had previously closed at $715.76.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTAS. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Robert W. Baird increased their price target on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Oppenheimer reiterated a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. Citigroup lowered shares of Cintas from a “neutral” rating to a “sell” rating and increased their price target for the stock from $530.00 to $570.00 in a research report on Friday, May 24th. Finally, Royal Bank of Canada increased their price target on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and a consensus price target of $664.07.

Cintas Price Performance

The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. The firm has a market cap of $72.58 billion, a P/E ratio of 49.43, a P/E/G ratio of 3.61 and a beta of 1.31. The business’s 50 day moving average is $693.99 and its two-hundred day moving average is $651.40.

Cintas shares are going to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, September 11th.

Insider Activity

In other news, COO Jim Rozakis sold 1,318 shares of Cintas stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $693.71, for a total transaction of $914,309.78. Following the completion of the transaction, the chief operating officer now directly owns 59,770 shares in the company, valued at $41,463,046.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ronald W. Tysoe sold 2,291 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total transaction of $1,589,839.45. Following the transaction, the director now directly owns 6,655 shares of the company’s stock, valued at $4,618,237.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 1,318 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $693.71, for a total transaction of $914,309.78. Following the transaction, the chief operating officer now directly owns 59,770 shares in the company, valued at $41,463,046.70. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new position in shares of Cintas during the second quarter valued at about $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas in the first quarter worth about $29,000. Rise Advisors LLC bought a new stake in Cintas in the first quarter worth about $30,000. Janiczek Wealth Management LLC raised its position in Cintas by 113.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after acquiring an additional 26 shares during the period. Finally, Webster Bank N. A. bought a new stake in Cintas in the first quarter worth about $38,000. 63.46% of the stock is owned by institutional investors.

Cintas Company Profile

Cintas Corporation provides 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.