Cintas (NASDAQ:CTAS) Price Target Raised to $185.00

Cintas (NASDAQ:CTAS) had its price target raised by Morgan Stanley from $170.00 to $185.00 in a research report sent to investors on Thursday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

CTAS has been the topic of several other research reports. StockNews.com upgraded Cintas from a hold rating to a buy rating in a report on Friday, June 14th. Robert W. Baird raised their target price on shares of Cintas from $194.00 to $209.00 and gave the company a neutral rating in a report on Thursday. UBS Group boosted their price target on shares of Cintas from $197.50 to $218.50 and gave the stock a buy rating in a report on Friday, July 19th. Wells Fargo & Company upgraded shares of Cintas to a strong sell rating in a report on Tuesday, August 13th. Finally, Barclays lowered their target price on shares of Cintas from $850.00 to $210.00 and set an overweight rating for the company in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $199.63.

Cintas Stock Down 2.3 %

Shares of NASDAQ:CTAS opened at $202.35 on Thursday. The firm has a market capitalization of $20.53 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas has a 1 year low of $119.69 and a 1 year high of $211.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The firm’s 50-day moving average is $208.88 and its two-hundred day moving average is $183.98.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.70 EPS. Analysts predict that Cintas will post 4.16 EPS for the current year.

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

Cintas Cuts Dividend

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

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction on Wednesday, July 24th. The shares were 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 approximately $24,083,425.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after acquiring an additional 838 shares during the period. QRG Capital Management Inc. raised its stake in shares of Cintas by 111.5% during the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after purchasing an additional 3,878 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Cintas by 105.7% during the second quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock worth $3,515,000 after purchasing an additional 2,580 shares during the period. Journey Advisory Group LLC grew its position in Cintas by 17.1% in the 2nd quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock valued at $4,511,000 after buying an additional 940 shares during the last quarter. Finally, Bensler LLC increased its stake in Cintas by 4.7% in the 2nd quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock valued at $10,048,000 after buying an additional 646 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

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.