UBS Group Raises Cintas (NASDAQ:CTAS) Price Target to $240.00

Cintas (NASDAQ:CTAS) had its price target increased by UBS Group from $219.00 to $240.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

CTAS has been the subject of a number of other reports. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They issued a neutral rating and a $167.50 target price for the company. Robert W. Baird boosted their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a neutral rating in a research note on Thursday. Morgan Stanley increased their price target on shares of Cintas from $170.00 to $185.00 and gave the company an equal weight rating in a research note on Thursday. Baird R W lowered shares of Cintas from a strong-buy rating to a hold rating in a report on Friday, July 19th. Finally, Royal Bank of Canada upped their price objective on Cintas from $181.00 to $215.00 and gave the stock a sector perform rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $199.63.

Cintas Trading Down 2.3 %

Shares of CTAS stock opened at $202.35 on Thursday. The company has a market capitalization of $20.53 billion, a P/E ratio of 13.97, a P/E/G ratio of 4.09 and a beta of 1.32. Cintas has a 12-month low of $119.69 and a 12-month high of $211.57. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $208.88 and a 200 day moving average price of $184.37.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.70 EPS. Research analysts forecast that Cintas will post 4.16 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently announced 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. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s payout ratio is currently 10.77%.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Cintas

Institutional investors and hedge funds have recently made changes to their positions in the company. Vantage Financial Partners LLC bought a new position in Cintas during the fourth quarter worth about $1,029,000. Aveo Capital Partners LLC lifted its holdings in shares of Cintas by 4.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock valued at $689,000 after purchasing an additional 44 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Cintas by 8.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock valued at $3,797,000 after purchasing an additional 502 shares during the period. Advisory Services Network LLC increased its stake in Cintas by 11.6% during the 4th quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock worth $671,000 after purchasing an additional 116 shares in the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in Cintas during the 4th quarter worth approximately $1,471,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.