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

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

Several other equities analysts have also commented on CTAS. Morgan Stanley upped their price target on shares of Cintas from $143.75 to $156.25 and gave the stock an equal weight rating in a research report on Friday, July 19th. Barclays dropped their price target on shares of Cintas from $850.00 to $210.00 and set an overweight rating on the stock in a research note on Friday, September 13th. Stifel Nicolaus boosted their price objective on Cintas from $166.75 to $199.50 and gave the stock a hold rating in a research report on Friday, July 19th. Citigroup cut Cintas from a neutral rating to a sell rating and raised their target price for the company from $132.50 to $142.50 in a research report on Friday, May 24th. Finally, UBS Group boosted their price target on Cintas from $197.50 to $218.50 and gave the stock a buy rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $186.30.

Cintas Price Performance

CTAS opened at $204.16 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $206.76 and its 200 day moving average price is $182.29. Cintas has a fifty-two week low of $118.68 and a fifty-two week high of $209.12. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. As a group, sell-side analysts expect that Cintas will post 16.64 earnings per share for the current year.

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

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.39 dividend. 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 0.76%. Cintas’s payout ratio is currently 10.77%.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. 15.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cintas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LGT Financial Advisors LLC lifted its stake in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Cintas during the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas in the 1st quarter valued at approximately $29,000. Rise Advisors LLC purchased a new stake in Cintas in the 1st quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.