The Goldman Sachs Group Raises Cintas (NASDAQ:CTAS) Price Target to $236.00

Cintas (NASDAQ:CTAS) had its target price boosted by The Goldman Sachs Group from $212.00 to $236.00 in a research note issued to investors on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the business services provider’s stock.

Other research analysts have also issued reports about the stock. Redburn Atlantic assumed coverage on shares of Cintas in a research note on Friday, August 9th. They issued a neutral rating and a $167.50 price target for the company. Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an equal weight rating in a report on Thursday. StockNews.com raised Cintas from a hold rating to a buy rating in a research report on Friday, June 14th. Stifel Nicolaus boosted their target price on Cintas from $166.75 to $199.50 and gave the stock a hold rating in a report on Friday, July 19th. Finally, Barclays reduced their price target on Cintas from $850.00 to $210.00 and set an overweight rating for the company in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $199.63.

Cintas Price Performance

CTAS stock opened at $202.35 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. Cintas has a 1 year low of $119.69 and a 1 year high of $211.57. The firm has a 50-day moving average of $208.88 and a 200 day moving average of $184.37. The company has a market cap of $20.53 billion, a P/E ratio of 13.97, a PEG ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 EPS. On average, sell-side analysts forecast that Cintas will post 4.16 EPS for the current year.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s payout ratio is 10.77%.

Cintas announced that its Board of Directors has approved a stock buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.10% of the stock is owned by company insiders.

Institutional Trading of Cintas

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

About Cintas

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.