Cintas (NASDAQ:CTAS) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Cintas (NASDAQ:CTAS) in a research note released on Thursday,Benzinga reports. Royal Bank of Canada currently has a $215.00 target price on the business services provider’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group cut their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Truist Financial cut their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Morgan Stanley raised their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cintas has a consensus rating of “Hold” and an average price target of $210.58.

Cintas Trading Down 1.5 %

NASDAQ CTAS opened at $203.22 on Thursday. The stock has a market cap of $82.01 billion, a PE ratio of 49.00, a PEG ratio of 3.98 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas has a 12 month low of $162.16 and a 12 month high of $228.12. The company’s 50-day moving average price is $201.01 and its 200-day moving average price is $208.92.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.84 EPS. Equities research analysts forecast that Cintas will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s payout ratio is 36.11%.

Institutional Trading of Cintas

Hedge funds and other institutional investors have recently modified their holdings of the company. MJP Associates Inc. ADV raised its position in shares of Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock worth $441,000 after purchasing an additional 50 shares during the period. Guardian Wealth Advisors LLC increased its holdings in Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after buying an additional 52 shares during the last quarter. MGB Wealth Management LLC increased its stake in shares of Cintas by 0.7% during the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock worth $1,328,000 after purchasing an additional 52 shares during the last quarter. TIAA Trust National Association raised its holdings in Cintas by 1.0% during the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after buying an additional 52 shares in the last quarter. Finally, Wellspring Financial Advisors LLC raised its stake in shares of Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

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.