Cintas (NASDAQ:CTAS) PT Raised to $191.00 at Wells Fargo & Company

Cintas (NASDAQ:CTAS) had its price objective lifted by Wells Fargo & Company from $184.00 to $191.00 in a research report sent to investors on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on CTAS. Stifel Nicolaus upped their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a hold rating in a research report on Friday, July 19th. Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the stock a buy rating in a report on Tuesday, September 17th. Barclays dropped their target price on Cintas from $850.00 to $210.00 and set an overweight rating on the stock in a research report on Friday, September 13th. Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the stock a neutral rating in a research report on Thursday. Finally, Morgan Stanley raised their price objective on Cintas from $170.00 to $185.00 and gave the company an equal weight rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $199.63.

Cintas Stock Down 2.3 %

Shares of NASDAQ:CTAS opened at $202.35 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $208.88 and its 200 day moving average is $184.37. The stock has a market cap of $20.53 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas has a 52-week low of $119.69 and a 52-week high of $211.57.

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 return on equity of 37.82% and a net margin of 16.38%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm posted $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts predict that Cintas will post 4.16 EPS for the current year.

Cintas Cuts Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s payout ratio is currently 10.77%.

Cintas declared that its board has initiated a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cintas

A number of large investors have recently bought and sold shares of CTAS. Checchi Capital Advisers LLC lifted its stake in Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after acquiring an additional 14 shares during the period. Axxcess Wealth Management LLC increased its stake in shares of Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares during the period. Field & Main Bank raised its holdings in shares of Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares during the last quarter. Drive Wealth Management LLC lifted its position in Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 16 shares during the period. Finally, TIAA Trust National Association boosted its holdings in Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors 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.