Cintas (NASDAQ:CTAS) Price Target Raised to $233.00

Cintas (NASDAQ:CTAS) had its target price increased by The Goldman Sachs Group from $211.00 to $233.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley boosted their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group raised their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird boosted their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Thursday. Finally, Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $210.58.

Cintas Stock Down 1.5 %

NASDAQ:CTAS opened at $203.22 on Thursday. The company has a market cap of $82.01 billion, a PE ratio of 49.00, a PEG ratio of 3.98 and a beta of 1.41. Cintas has a 52-week low of $162.16 and a 52-week high of $228.12. The stock has a 50-day simple moving average of $201.01 and a 200 day simple moving average of $208.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the company earned $3.84 EPS. Cintas’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts expect that Cintas will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, February 14th. Cintas’s payout ratio is presently 36.11%.

Hedge Funds Weigh In On Cintas

A number of hedge funds have recently bought and sold shares of CTAS. MJP Associates Inc. ADV increased its stake in shares of Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after acquiring an additional 50 shares in the last quarter. Guardian Wealth Advisors LLC increased its stake in Cintas by 3.1% in the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after buying an additional 52 shares during the last quarter. MGB Wealth Management LLC lifted its holdings in Cintas by 0.7% during the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock worth $1,328,000 after acquiring an additional 52 shares during the period. TIAA Trust National Association raised its stake in shares of Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after purchasing an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC raised its position in Cintas by 4.6% in the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock worth $214,000 after acquiring an additional 52 shares during the period. 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.