Cintas (NASDAQ:CTAS) Given New $240.00 Price Target at UBS Group

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

A number of other research analysts have also recently commented on CTAS. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Finally, The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $207.57.

Cintas Stock Performance

CTAS opened at $206.25 on Thursday. The stock’s 50 day simple moving average is $200.91 and its 200-day simple moving average is $208.87. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $83.23 billion, a PE ratio of 49.73, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas has a 1 year low of $162.16 and a 1 year high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results 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 for 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 business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.84 EPS. Sell-side analysts forecast that Cintas will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CTAS. DSG Capital Advisors LLC acquired a new position in shares of Cintas during the fourth quarter valued at $958,000. 111 Capital acquired a new position in Cintas during the 4th quarter valued at about $4,653,000. Smith Shellnut Wilson LLC ADV boosted its stake in shares of Cintas by 8.2% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 5,768 shares of the business services provider’s stock valued at $1,054,000 after purchasing an additional 436 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Cintas during the 4th quarter worth approximately $69,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Cintas during the fourth quarter worth approximately $66,909,000. 63.46% of the stock is currently owned by institutional investors.

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.