Robert W. Baird Raises Cintas (NASDAQ:CTAS) Price Target to $209.00

Cintas (NASDAQ:CTAS) had its price target increased by Robert W. Baird from $194.00 to $209.00 in a report published on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Cintas from $143.75 to $156.25 and gave the company an equal weight rating in a report on Friday, July 19th. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a neutral rating and a $167.50 price objective for the company. Truist Financial increased their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a buy rating in a report on Tuesday, September 17th. Baird R W cut shares of Cintas from a strong-buy rating to a hold rating in a report on Friday, July 19th. Finally, Barclays decreased their price objective on shares of Cintas from $850.00 to $210.00 and set an overweight rating for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $202.35 on Thursday. The firm’s 50 day moving average is $208.88 and its two-hundred day moving average is $183.98. Cintas has a 52 week low of $119.69 and a 52 week high of $211.57. The firm has a market capitalization of $20.53 billion, a P/E ratio of 13.97, a PEG ratio of 4.09 and a beta of 1.32. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating 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 analyst estimates of $2.49 billion. During the same quarter last year, the business earned $3.70 earnings per share. Cintas’s revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Cintas will post 4.16 earnings per share for the current year.

Cintas declared that its board has approved a share repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Cintas Cuts Dividend

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

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Cintas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after buying an additional 112,361 shares in the last quarter. Legal & General Group Plc lifted its position in Cintas by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after buying an additional 3,471 shares in the last quarter. Nordea Investment Management AB lifted its position in Cintas by 6.3% in the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after buying an additional 37,727 shares in the last quarter. Acadian Asset Management LLC lifted its position in Cintas by 21.1% in the 2nd quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after buying an additional 67,440 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after buying an additional 201,955 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.