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

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

Other equities research analysts have also issued reports about the company. Citigroup began coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley increased their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $207.57.

Cintas Stock Up 0.8 %

Shares of NASDAQ CTAS 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. The company has a 50-day moving average price of $200.91 and a 200-day moving average price of $208.87. The stock has a market capitalization of $83.23 billion, a P/E ratio of 49.73, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas has a 1 year low of $162.16 and a 1 year high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly 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. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.84 EPS. On average, equities research analysts forecast that Cintas will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

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

Hedge Funds Weigh In On Cintas

A number of large investors have recently made changes to their positions in CTAS. Sound Income Strategies LLC purchased a new stake in Cintas during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas in the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Cintas in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC grew its stake in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Cintas during the 4th quarter worth approximately $34,000. 63.46% of the stock is 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.