The Goldman Sachs Group Issues Pessimistic Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price target reduced by The Goldman Sachs Group from $236.00 to $211.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday. Barclays lifted their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Morgan Stanley raised their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. UBS Group lowered their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday. Finally, Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $195.90.

Cintas Stock Performance

NASDAQ CTAS opened at $186.94 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a market capitalization of $75.39 billion, a PE ratio of 47.21, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. Cintas has a 52-week low of $142.18 and a 52-week high of $228.12. The company has a 50-day simple moving average of $214.31 and a 200 day simple moving average of $202.98.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm posted $3.61 EPS. Cintas’s revenue was up 7.8% on a year-over-year basis. On average, research analysts predict that Cintas will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, November 15th. Cintas’s payout ratio is 39.39%.

Institutional Trading of Cintas

Hedge funds have recently made changes to their positions in the stock. LGT Financial Advisors LLC lifted its stake in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. Hollencrest Capital Management boosted its stake in Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares in the last quarter. Addison Advisors LLC grew its position in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares during the last quarter. Finally, Grove Bank & Trust grew its position in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares during the last quarter. 63.46% of the stock is 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.