Analysts Set Cintas Co. (NASDAQ:CTAS) Price Target at $199.63

Cintas Co. (NASDAQ:CTAS) has been given a consensus recommendation of “Hold” by the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $199.63.

CTAS has been the topic of a number of research reports. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. UBS Group boosted their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC raised its stake in shares of Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 0.5 %

Shares of CTAS stock opened at $216.20 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas has a 1 year low of $136.50 and a 1 year high of $227.35. The stock has a fifty day moving average of $221.79 and a two-hundred day moving average of $196.06. The firm has a market capitalization of $87.19 billion, a PE ratio of 54.60, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that Cintas will post 4.23 EPS for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

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

About Cintas

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.