Cintas (NASDAQ:CTAS) Coverage Initiated at Citigroup

Citigroup assumed coverage on shares of Cintas (NASDAQ:CTAS) in a research report report published on Monday morning, MarketBeat reports. The firm issued a sell rating and a $161.00 price objective on the business services provider’s stock.

A number of other analysts have also weighed in on CTAS. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Robert W. Baird dropped their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group reduced their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, UBS Group decreased their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Stock Performance

Shares of Cintas stock opened at $204.31 on Monday. 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’s fifty day moving average price is $196.31 and its 200-day moving average price is $208.59. The firm has a market cap of $82.45 billion, a P/E ratio of 49.26, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas has a 12 month low of $154.15 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm posted $3.61 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Cintas will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas’s dividend payout ratio is currently 37.59%.

Institutional Investors Weigh In On Cintas

A number of large investors have recently made changes to their positions in the stock. State Street Corp lifted its position in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC raised its stake in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Norges Bank purchased a new stake in Cintas in the fourth quarter valued at approximately $877,216,000. Finally, Franklin Resources Inc. increased its holdings in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the period. 63.46% of the stock is owned by hedge funds and other 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.