Royal Bank of Canada Raises Cintas (NASDAQ:CTAS) Price Target to $215.00

Cintas (NASDAQ:CTAS) had its price target upped by Royal Bank of Canada from $181.00 to $215.00 in a research note published on Thursday, Benzinga reports. They currently have a sector perform rating on the business services provider’s stock.

Several other research firms have also commented on CTAS. Wells Fargo & Company raised shares of Cintas to a strong sell rating in a research report on Tuesday, August 13th. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They issued a neutral rating and a $167.50 target price on the stock. Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the stock a buy rating in a report on Tuesday, September 17th. Morgan Stanley boosted their price objective on shares of Cintas from $143.75 to $156.25 and gave the company an equal weight rating in a report on Friday, July 19th. Finally, Baird R W lowered shares of Cintas from a strong-buy rating to a hold rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas has a consensus rating of Hold and a consensus price target of $199.63.

Cintas Stock Down 2.3 %

Shares of CTAS opened at $202.35 on Thursday. Cintas has a 52-week low of $119.69 and a 52-week high of $211.57. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $208.88 and a two-hundred day simple moving average of $183.98. The company 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 announced its quarterly earnings data 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 firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm posted $3.70 earnings per share. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts forecast that Cintas will post 4.16 EPS for the current year.

Cintas declared that its board has approved a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cintas Cuts Dividend

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

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is owned by company insiders.

Institutional Trading of Cintas

Hedge funds have recently added to or reduced their stakes in the company. Vantage Financial Partners LLC purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $1,029,000. Aveo Capital Partners LLC grew its stake in shares of Cintas by 4.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after purchasing an additional 44 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Cintas by 8.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock valued at $3,797,000 after buying an additional 502 shares during the last quarter. Advisory Services Network LLC raised its stake in Cintas by 11.6% in the fourth quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock valued at $671,000 after buying an additional 116 shares in the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new stake in Cintas during the 4th quarter worth about $1,471,000. Institutional investors and hedge funds 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.