Cintas (NASDAQ:CTAS) Given New $211.00 Price Target at The Goldman Sachs Group

Cintas (NASDAQ:CTAS) had its price target reduced by The Goldman Sachs Group from $236.00 to $211.00 in a research note released on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the business services provider’s stock.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley raised their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Friday. UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company reduced their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Barclays raised their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $195.90.

Cintas Stock Performance

Cintas stock opened at $186.94 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a market cap of $75.39 billion, a PE ratio of 47.21, a P/E/G ratio of 4.15 and a beta of 1.33. Cintas has a 12-month low of $142.18 and a 12-month high of $228.12. The business’s 50-day moving average price is $214.31 and its two-hundred day moving average price is $202.98.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.61 EPS. As a group, analysts expect that Cintas will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.83%. Cintas’s dividend payout ratio is presently 39.39%.

Institutional Investors Weigh In On Cintas

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Cintas by 301.5% during the 3rd quarter. Principal Financial Group Inc. now owns 503,522 shares of the business services provider’s stock worth $103,665,000 after acquiring an additional 378,101 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Cintas during the third quarter valued at about $23,779,000. B. Riley Wealth Advisors Inc. boosted its holdings in Cintas by 256.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,952 shares of the business services provider’s stock worth $401,000 after purchasing an additional 1,405 shares during the last quarter. Brass Tax Wealth Management Inc. grew its position in Cintas by 300.0% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 1,816 shares of the business services provider’s stock worth $374,000 after purchasing an additional 1,362 shares in the last quarter. Finally, 1ST Source Bank increased its stake in Cintas by 300.0% in the 3rd quarter. 1ST Source Bank now owns 1,652 shares of the business services provider’s stock valued at $340,000 after buying an additional 1,239 shares during the last quarter. Institutional investors 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.