Cintas (NASDAQ:CTAS) Price Target Raised to $215.00

Cintas (NASDAQ:CTAS) had its price target lifted by Royal Bank of Canada from $181.00 to $215.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a sector perform rating on the business services provider’s stock.

Several other analysts also recently weighed in on the company. Morgan Stanley boosted their price target on Cintas from $143.75 to $156.25 and gave the company an equal weight rating in a research note on Friday, July 19th. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They issued a neutral rating and a $167.50 price target on the stock. Robert W. Baird lifted their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a neutral rating in a research note on Thursday. Baird R W lowered shares of Cintas from a strong-buy rating to a hold rating in a research note on Friday, July 19th. Finally, StockNews.com upgraded shares of Cintas from a hold rating to a buy rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Cintas has an average rating of Hold and an average price target of $199.63.

Cintas Price Performance

Shares of CTAS stock opened at $202.35 on Thursday. Cintas has a fifty-two week low of $119.69 and a fifty-two week high of $211.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The firm has a market capitalization of $20.53 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 4.09 and a beta of 1.32. The stock’s 50-day simple moving average is $208.88 and its 200-day simple 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 for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the firm earned $3.70 EPS. Cintas’s revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts forecast that Cintas will post 4.16 earnings per share for the current fiscal year.

Cintas announced that its board has initiated a share repurchase plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Cintas Cuts Dividend

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

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cintas

Large investors have recently bought and sold shares of the company. Vantage Financial Partners LLC purchased a new stake in shares of Cintas during the fourth quarter worth approximately $1,029,000. Aveo Capital Partners LLC grew its holdings in shares of Cintas by 4.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after buying an additional 44 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Cintas by 8.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock valued at $3,797,000 after buying an additional 502 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Cintas by 11.6% in the fourth quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock worth $671,000 after buying an additional 116 shares in the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new position in shares of Cintas in the fourth quarter worth about $1,471,000. 63.46% of the stock is currently 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.