Cintas (NASDAQ:CTAS) PT Raised to $185.00

Cintas (NASDAQ:CTAS) had its price target lifted by Morgan Stanley from $170.00 to $185.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the business services provider’s stock.

Other equities research analysts have also issued reports about the stock. Barclays lowered 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. UBS Group upped their target price on shares of Cintas from $197.50 to $218.50 and gave the company a buy rating in a report on Friday, July 19th. Baird R W cut Cintas from a strong-buy rating to a hold rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They issued a neutral rating and a $167.50 price objective on the stock. Finally, Wells Fargo & Company upgraded Cintas to a strong sell rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cintas presently has a consensus rating of Hold and a consensus target price of $199.63.

Cintas Stock Performance

CTAS stock opened at $202.35 on Thursday. The company has a 50 day moving average price of $208.88 and a 200 day moving average price of $184.37. Cintas has a fifty-two week low of $119.69 and a fifty-two week high of $211.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The stock has a market capitalization of $20.53 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the company posted $3.70 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Analysts forecast that Cintas will post 4.16 EPS for the current year.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s payout ratio is 10.77%.

Cintas declared that its board has authorized a stock buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Cintas

Several large investors have recently bought and sold shares of CTAS. Vanguard Group Inc. increased its stake in Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after buying an additional 112,361 shares during the last quarter. Legal & General Group Plc increased its position in shares of Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after acquiring an additional 3,471 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after acquiring an additional 37,727 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Cintas by 21.1% during the second quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after acquiring an additional 67,440 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after purchasing an additional 201,955 shares during the period. 63.46% of the stock is currently owned by institutional investors.

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.