Cintas (NASDAQ:CTAS) Price Target Raised to $227.00

Cintas (NASDAQ:CTAS) had its price objective hoisted by Robert W. Baird from $200.00 to $227.00 in a report released on Thursday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the business services provider’s stock.

Several other equities analysts have also weighed in on CTAS. The Goldman Sachs Group lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday. Truist Financial cut their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley raised their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, UBS Group cut their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $207.57.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $206.25 on Thursday. The stock’s 50 day moving average price is $200.91 and its 200 day moving average price is $208.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market cap of $83.23 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 3.98 and a beta of 1.41. Cintas has a 12 month low of $162.16 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the business earned $3.84 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Cintas will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

Institutional Investors Weigh In On Cintas

Institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Norges Bank acquired a new stake in shares of Cintas in the 4th quarter valued at $877,216,000. Franklin Resources Inc. boosted its holdings in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after buying an additional 1,904,926 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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.