Cintas (NASDAQ:CTAS) Price Target Raised to $240.00

Cintas (NASDAQ:CTAS) had its target price increased by UBS Group from $218.00 to $240.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

CTAS has been the topic of a number of other research reports. Truist Financial increased their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Thursday. Robert W. Baird boosted their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley increased their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their target price on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cintas has a consensus rating of “Hold” and an average target price of $210.58.

Cintas Stock Performance

NASDAQ:CTAS opened at $203.22 on Thursday. The stock has a market capitalization of $82.01 billion, a P/E ratio of 49.00, a price-to-earnings-growth 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 1 year low of $162.16 and a 1 year high of $228.12. The firm has a 50 day moving average of $201.01 and a 200-day moving average of $208.92.

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

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.39 per share. 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 currently 36.11%.

Institutional Trading of Cintas

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

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.