Cintas (NASDAQ:CTAS) PT Raised to $209.00

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

A number of other brokerages have also commented on CTAS. Truist Financial lifted their price target on Cintas from $212.50 to $225.00 and gave the company a buy rating in a research note on Tuesday, September 17th. Wells Fargo & Company raised shares of Cintas to a strong sell rating in a report on Tuesday, August 13th. Redburn Atlantic assumed coverage on shares of Cintas in a research note on Friday, August 9th. They set a neutral rating and a $167.50 price target for the company. StockNews.com raised shares of Cintas from a hold rating to a buy rating in a research note on Friday, June 14th. Finally, Barclays lowered their target price on Cintas from $850.00 to $210.00 and set an overweight rating for the company in a research report on Friday, September 13th. Two 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 MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $199.63.

Cintas Price Performance

Cintas stock opened at $202.35 on Thursday. The stock has a fifty day moving average of $208.88 and a 200-day moving average of $184.37. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. Cintas has a 52 week low of $119.69 and a 52 week high of $211.57.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. On average, sell-side analysts expect that Cintas will post 4.16 earnings per share for the current fiscal 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 $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio is currently 10.77%.

Cintas declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its holdings in shares of Cintas by 0.9% during the second 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 in the last quarter. Axxcess Wealth Management LLC raised its holdings in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after buying an additional 14 shares during the last quarter. Field & Main Bank grew 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 valued at $53,000 after buying an additional 15 shares during the last quarter. Drive Wealth Management LLC increased its position in shares of Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

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.