Cintas (NASDAQ:CTAS) Price Target Raised to $245.00

Cintas (NASDAQ:CTAS) had its price target raised by Barclays from $210.00 to $245.00 in a report published on Friday, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. StockNews.com raised shares of Cintas from a hold rating to a buy rating in a research note on Friday, June 14th. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a buy rating in a research report on Thursday. Robert W. Baird boosted their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a neutral rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an equal weight rating in a research report on Thursday. Finally, Truist Financial boosted their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a buy rating in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $199.63.

Cintas Stock Performance

NASDAQ:CTAS opened at $202.35 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $20.53 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 4.09 and a beta of 1.32. The firm’s fifty day simple moving average is $208.88 and its 200 day simple moving average is $184.37. Cintas has a twelve month low of $119.69 and a twelve month high of $211.57.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted $3.70 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts expect that Cintas will post 4.16 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is presently 10.77%.

Cintas declared that its board has initiated a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s 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 completion of the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vantage Financial Partners LLC acquired a new stake in shares of Cintas in the 4th quarter worth approximately $1,029,000. Aveo Capital Partners LLC lifted its stake in shares of Cintas by 4.0% in the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after acquiring an additional 44 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Cintas by 8.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock worth $3,797,000 after acquiring an additional 502 shares during the period. Advisory Services Network LLC lifted its stake in shares of Cintas by 11.6% in the 4th quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock worth $671,000 after acquiring an additional 116 shares during the period. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Cintas in the 4th quarter worth approximately $1,471,000. 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.