Truist Financial Boosts Cintas (NASDAQ:CTAS) Price Target to $225.00

Cintas (NASDAQ:CTAS) had its target price lifted by Truist Financial from $212.50 to $225.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company raised Cintas to a strong sell rating in a research report on Tuesday, August 13th. Barclays dropped their price objective on Cintas from $850.00 to $210.00 and set an overweight rating on the stock in a research report on Friday, September 13th. StockNews.com raised Cintas from a hold rating to a buy rating in a research report on Friday, June 14th. Citigroup downgraded shares of Cintas from a neutral rating to a sell rating and raised their price target for the company from $132.50 to $142.50 in a report on Friday, May 24th. Finally, Baird R W cut shares of Cintas from a strong-buy rating to a hold rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $186.30.

Cintas Stock Up 1.2 %

Shares of NASDAQ:CTAS opened at $203.74 on Tuesday. Cintas has a 12-month low of $118.68 and a 12-month high of $209.12. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 4.36 and a beta of 1.32. The stock has a fifty day simple moving average of $206.29 and a two-hundred day simple moving average of $181.97. 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 data on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. 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%. Cintas’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 EPS. On average, research analysts anticipate that Cintas will post 16.64 earnings per share for the current fiscal year.

Cintas announced that its board has initiated a stock buyback 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently disclosed 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 dividend yield of 0.77%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the firm’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 sale, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. LGT Financial Advisors LLC raised its position in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas in the 2nd quarter worth $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas during the 1st quarter valued at about $29,000. Rise Advisors LLC purchased a new position in shares of Cintas during the first quarter valued at about $30,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the last quarter. 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.