Robert W. Baird Issues Positive Forecast for Cintas (NASDAQ:CTAS) Stock Price

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

Other analysts have also issued reports about the company. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company upped their target price on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Citigroup assumed coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Finally, UBS Group decreased 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, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $207.57.

Cintas Stock Performance

Cintas stock opened at $206.25 on Thursday. The firm has a market capitalization of $83.23 billion, a PE ratio of 49.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas has a one year low of $162.16 and a one year high of $228.12. 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 quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last posted its earnings results 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. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.84 earnings per share. As a group, sell-side analysts expect that Cintas will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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

Hedge Funds Weigh In On Cintas

Hedge funds and other institutional investors have recently modified their holdings of the company. Great Valley Advisor Group Inc. acquired a new position in Cintas during the 3rd quarter valued at about $223,000. Fisher Asset Management LLC raised its holdings in shares of Cintas by 178.3% during the third quarter. Fisher Asset Management LLC now owns 2,460 shares of the business services provider’s stock valued at $507,000 after buying an additional 1,576 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in Cintas by 311.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 436 shares of the business services provider’s stock worth $90,000 after buying an additional 330 shares in the last quarter. Truvestments Capital LLC bought a new position in Cintas in the 3rd quarter worth approximately $59,000. Finally, D.A. Davidson & CO. increased its position in Cintas by 293.3% in the 3rd quarter. D.A. Davidson & CO. now owns 16,198 shares of the business services provider’s stock valued at $3,335,000 after acquiring an additional 12,079 shares during the period. Institutional investors and hedge funds 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.