Analysts Set Cintas Co. (NASDAQ:CTAS) PT at $742.36

Shares of Cintas Co. (NASDAQ:CTAS) have been given an average recommendation of “Hold” by the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $742.36.

A number of research analysts recently weighed in on CTAS shares. Truist Financial increased their price objective on shares of Cintas from $775.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a report on Tuesday, August 13th. Royal Bank of Canada cut shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 target price for the company. in a report on Monday, July 15th. Stifel Nicolaus upped their target price on shares of Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the transaction, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cintas

Several institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new position in Cintas during the second quarter valued at $8,454,000. Brown Financial Advisors bought a new position in Cintas during the second quarter valued at $189,000. KPP Advisory Services LLC lifted its position in Cintas by 19.6% during the second quarter. KPP Advisory Services LLC now owns 434 shares of the business services provider’s stock valued at $304,000 after purchasing an additional 71 shares during the last quarter. Founders Financial Alliance LLC bought a new position in Cintas during the second quarter valued at $317,000. Finally, Cetera Investment Advisers lifted its position in Cintas by 2.6% during the second quarter. Cetera Investment Advisers now owns 26,170 shares of the business services provider’s stock valued at $18,326,000 after purchasing an additional 672 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 2.1 %

Shares of Cintas stock opened at $781.90 on Monday. The company has a market cap of $79.33 billion, a price-to-earnings ratio of 54.00, a price-to-earnings-growth ratio of 4.28 and a beta of 1.31. The company’s 50 day moving average is $756.32 and its 200 day moving average is $698.93. Cintas has a twelve month low of $474.74 and a twelve month high of $812.01. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47.

Cintas’s stock is set to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be payable to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.33 earnings per share. Research analysts anticipate that Cintas will post 16.64 EPS for the current year.

Cintas declared that its Board of Directors has authorized a share buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $1.56 per share. This is a positive change from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.80%. Cintas’s dividend payout ratio is currently 43.09%.

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.