Cintas (NASDAQ:CTAS) Price Target Raised to $245.00 at Barclays

Cintas (NASDAQ:CTAS) had its price objective upped by Barclays from $210.00 to $245.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

CTAS has been the subject of several other reports. Truist Financial increased their price objective on Cintas from $212.50 to $225.00 and gave the stock a buy rating in a research note on Tuesday, September 17th. UBS Group raised their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a buy rating in a report on Thursday. StockNews.com upgraded shares of Cintas from a hold rating to a buy rating in a research note on Friday, June 14th. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They set a neutral rating and a $167.50 target price for the company. Finally, Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a sector perform rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $199.63.

Cintas Stock Down 2.3 %

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

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

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is currently 10.77%.

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

Insiders Place Their Bets

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Cintas

A number of institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC boosted its position in shares of Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after acquiring an additional 201,955 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Cintas by 711.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock valued at $91,915,000 after purchasing an additional 133,713 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Cintas in the 1st quarter valued at approximately $84,646,000. Vanguard Group Inc. lifted its position in shares of Cintas by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after buying an additional 112,361 shares during the period. Finally, Congress Asset Management Co. MA boosted its stake in Cintas by 124.9% in the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock valued at $134,318,000 after buying an additional 108,582 shares in the last quarter. 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.