Cintas (NASDAQ:CTAS) PT Raised to $209.00 at Robert W. Baird

Cintas (NASDAQ:CTAS) had its price objective hoisted by Robert W. Baird from $194.00 to $209.00 in a research note released on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the business services provider’s stock.

Several other research analysts also recently commented on the stock. Barclays dropped their target price on shares of Cintas from $850.00 to $210.00 and set an overweight rating on the stock in a report on Friday, September 13th. Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They set a neutral rating and a $167.50 target price for the company. Baird R W lowered shares of Cintas from a strong-buy rating to a hold rating in a research report on Friday, July 19th. Wells Fargo & Company raised shares of Cintas to a strong sell rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley boosted their target price on shares of Cintas from $143.75 to $156.25 and gave the stock an equal weight rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $199.63.

Cintas Stock Down 2.3 %

Cintas stock opened at $202.35 on Thursday. The company has a market capitalization of $20.53 billion, a P/E ratio of 13.97, a P/E/G 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 $183.98. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Cintas has a 1-year low of $119.69 and a 1-year high of $211.57.

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

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 dividend on an annualized basis and a yield of 0.77%. Cintas’s payout ratio is currently 10.77%.

Cintas announced that its board has authorized a share buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.10% of the stock is currently owned by insiders.

Institutional Trading of Cintas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Cintas by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after buying an additional 112,361 shares during the last quarter. Legal & General Group Plc grew its stake in Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after buying an additional 3,471 shares during the last quarter. Nordea Investment Management AB grew its stake in Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after buying an additional 37,727 shares during the last quarter. Acadian Asset Management LLC grew its stake 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 buying an additional 67,440 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after buying an additional 201,955 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

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.