Cintas (NASDAQ:CTAS) Trading Down 1.6%

Shares of Cintas Co. (NASDAQ:CTAS) dropped 1.6% during mid-day trading on Friday . The company traded as low as $747.31 and last traded at $749.76. Approximately 107,256 shares traded hands during trading, a decline of 71% from the average daily volume of 372,861 shares. The stock had previously closed at $761.91.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. UBS Group boosted their price objective on shares of Cintas from $790.00 to $874.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada downgraded Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 price target on the stock. in a report on Monday, July 15th. Barclays lifted their target price on Cintas from $700.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus boosted their price target on Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $749.00.

Cintas Trading Down 0.7 %

The stock has a market capitalization of $76.26 billion, a price-to-earnings ratio of 51.82, a P/E/G ratio of 4.07 and a beta of 1.31. The company has a 50 day moving average of $712.38 and a 200 day moving average of $668.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74.

Cintas shares are set to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be issued to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the company earned $3.33 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 0.82%. This is an increase from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date is Thursday, August 15th. Cintas’s payout ratio is 37.29%.

Cintas announced that its board has authorized a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Cintas

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the sale, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jim Rozakis sold 1,318 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now owns 59,770 shares of the company’s stock, valued at approximately $41,463,046.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,709 shares of company stock worth $3,346,441. 15.10% of the stock is currently owned by insiders.

Institutional Trading of Cintas

A number of institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its holdings in Cintas by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 7,406 shares of the business services provider’s stock valued at $5,186,000 after purchasing an additional 38 shares during the last quarter. Octavia Wealth Advisors LLC purchased a new position in Cintas during the 2nd quarter valued at about $307,000. Privium Fund Management UK Ltd acquired a new position in Cintas during the second quarter worth about $679,000. Comgest Global Investors S.A.S. lifted its holdings in shares of Cintas by 25.6% in the second quarter. Comgest Global Investors S.A.S. now owns 38,176 shares of the business services provider’s stock valued at $26,733,000 after purchasing an additional 7,789 shares in the last quarter. Finally, TIAA Trust National Association grew its position in shares of Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

About Cintas

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.