Cintas (NASDAQ:CTAS) PT Raised to $225.00

Cintas (NASDAQ:CTAS) had its target price lifted by Truist Financial from $212.50 to $225.00 in a research note published on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

Other analysts have also recently issued reports about the stock. UBS Group boosted their price objective on shares of Cintas from $197.50 to $218.50 and gave the stock a buy rating in a research note on Friday, July 19th. Baird R W cut shares of Cintas from a strong-buy rating to a hold rating in a report on Friday, July 19th. Morgan Stanley raised their price target on Cintas from $143.75 to $156.25 and gave the company an equal weight rating in a research report on Friday, July 19th. Wells Fargo & Company raised Cintas to a strong sell rating in a research report on Tuesday, August 13th. Finally, Citigroup lowered Cintas from a neutral rating to a sell rating and raised their target price for the company from $132.50 to $142.50 in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $186.30.

Cintas Stock Performance

Shares of CTAS opened at $204.16 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. Cintas has a 12 month low of $118.68 and a 12 month high of $209.12. The company’s fifty day moving average is $206.76 and its 200-day moving average is $182.29. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Equities analysts expect that Cintas will post 16.64 EPS for the current fiscal year.

Cintas declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Cintas Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is presently 10.77%.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Cintas

Several large investors have recently modified their holdings of the stock. Clearbridge Investments LLC grew its position in Cintas by 475.7% in the fourth quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock valued at $180,423,000 after acquiring an additional 247,378 shares during the period. Los Angeles Capital Management LLC boosted its position in Cintas by 123.1% in the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after buying an additional 201,955 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in Cintas by 711.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock worth $91,915,000 after buying an additional 133,713 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Cintas during the first quarter worth approximately $84,646,000. Finally, Vanguard Group Inc. raised its stake in shares of Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after acquiring an additional 112,361 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.