Truist Financial Issues Positive Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price target raised by Truist Financial from $215.00 to $230.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

A number of other analysts also recently weighed in on CTAS. Citigroup assumed coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price for the company. Morgan Stanley upped their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group decreased their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird upped their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six 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 $207.57.

Cintas Trading Up 0.8 %

Shares of Cintas stock opened at $206.25 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas has a 1 year low of $162.16 and a 1 year high of $228.12. The firm has a market cap of $83.23 billion, a PE ratio of 49.73, a PEG ratio of 3.98 and a beta of 1.41. The company has a 50 day simple moving average of $200.91 and a two-hundred day simple moving average of $208.87.

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

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio is currently 36.11%.

Institutional Trading of Cintas

Large investors have recently bought and sold shares of the company. State Street Corp raised its position in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Norges Bank purchased a new position in Cintas during the fourth quarter valued at $877,216,000. Franklin Resources Inc. boosted its holdings in shares of Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after buying an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cintas by 308.2% in the 3rd 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 period. 63.46% of the stock is owned by 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.