Cintas (NASDAQ:CTAS) Price Target Raised to $236.00

Cintas (NASDAQ:CTAS) had its price target hoisted by The Goldman Sachs Group from $212.00 to $236.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities research analysts have also recently issued reports on the company. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They set a neutral rating and a $167.50 price objective on the stock. StockNews.com upgraded Cintas from a hold rating to a buy rating in a report on Friday, June 14th. Truist Financial upped their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a buy rating in a research note on Tuesday, September 17th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an underweight rating in a report on Thursday. Finally, Robert W. Baird upped their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a neutral rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $199.63.

Cintas Trading Down 2.3 %

Cintas stock opened at $202.35 on Thursday. The stock has a 50-day moving average price of $208.88 and a 200 day moving average price of $183.98. Cintas has a 52 week low of $119.69 and a 52 week high of $211.57. The stock 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 company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share 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 during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted $3.70 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Equities research analysts predict that Cintas will post 4.16 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas announced that its board has initiated a share repurchase plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Cintas

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 stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. LGT Financial Advisors LLC lifted its holdings in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Cintas during the second quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas in the first quarter valued at about $29,000. Rise Advisors LLC purchased a new position in Cintas in the first quarter valued at about $30,000. Finally, Meeder Asset Management Inc. increased its holdings in Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other 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.