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

Cintas (NASDAQ:CTAS) had its price objective lifted by The Goldman Sachs Group from $211.00 to $233.00 in a report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on the stock. UBS Group increased their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Thursday. Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Citigroup assumed coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $210.58.

Cintas Stock Down 1.5 %

CTAS stock opened at $203.22 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 fifty day moving average price of $201.01 and a two-hundred day moving average price of $208.92. The firm has a market cap of $82.01 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.60 billion. During the same period last year, the business posted $3.84 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts predict that Cintas will post 4.31 EPS for the current year.

Cintas Dividend Announcement

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

Institutional Investors Weigh In On Cintas

A number of institutional investors have recently added to or reduced their stakes in CTAS. State Street Corp boosted its position in shares of Cintas by 299.3% during the 3rd 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 increased its stake in shares of Cintas by 309.7% in 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 buying an additional 6,235,052 shares during the period. Norges Bank bought a new stake in Cintas during the 4th quarter worth about $877,216,000. Franklin Resources Inc. raised its stake in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $519,419,000 after purchasing an additional 1,904,926 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

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.