Brokerages Set Cintas Co. (NASDAQ:CTAS) Target Price at $457.11

Shares of Cintas Co. (NASDAQ:CTAS – Get Rating) have been assigned an average rating of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $457.11.

A number of research firms recently issued reports on CTAS. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 28th. Bank of America started coverage on Cintas in a report on Friday, March 11th. They set a “neutral” rating for the company. Argus decreased their price target on Cintas from $490.00 to $450.00 in a report on Friday, March 25th. The Goldman Sachs Group lifted their price target on Cintas from $460.00 to $493.00 in a report on Wednesday, March 23rd. Finally, Morgan Stanley decreased their price target on Cintas from $416.00 to $389.00 and set an “equal weight” rating for the company in a report on Thursday, March 24th.

In related news, CAO Michael Lawrence Thompson sold 12,500 shares of the business’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $423.24, for a total value of $5,290,500.00. Following the transaction, the chief accounting officer now owns 28,933 shares in the company, valued at approximately $12,245,602.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO J. Michael Hansen sold 8,200 shares of the business’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $424.23, for a total value of $3,478,686.00. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of CTAS. Carnegie Capital Asset Management LLC boosted its holdings in Cintas by 12.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 14,536 shares of the business services provider’s stock valued at $6,442,000 after purchasing an additional 1,613 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in Cintas by 2.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 25,609 shares of the business services provider’s stock valued at $9,764,000 after purchasing an additional 617 shares in the last quarter. State Farm Mutual Automobile Insurance Co. boosted its holdings in Cintas by 97.2% in the 3rd quarter. State Farm Mutual Automobile Insurance Co. now owns 96,086 shares of the business services provider’s stock valued at $36,576,000 after purchasing an additional 47,353 shares in the last quarter. Westpac Banking Corp boosted its holdings in Cintas by 7.4% in the 4th quarter. Westpac Banking Corp now owns 7,213 shares of the business services provider’s stock valued at $3,197,000 after purchasing an additional 500 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Cintas by 5.5% in the 4th quarter. Fifth Third Bancorp now owns 133,444 shares of the business services provider’s stock valued at $59,138,000 after purchasing an additional 6,995 shares in the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s stock.

CTAS stock traded down $5.17 during midday trading on Friday, hitting $381.57. 1,579 shares of the company’s stock were exchanged, compared to its average volume of 425,009. The business has a 50-day simple moving average of $402.58 and a two-hundred day simple moving average of $411.45. The company has a current ratio of 1.02, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $39.04 billion, a PE ratio of 33.61, a P/E/G ratio of 3.23 and a beta of 1.48. Cintas has a 1-year low of $338.00 and a 1-year high of $461.44.

Cintas (NASDAQ:CTAS – Get Rating) last posted its earnings results on Wednesday, March 23rd. The business services provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.53. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Cintas had a return on equity of 34.05% and a net margin of 15.88%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.37 earnings per share. As a group, research analysts expect that Cintas will post 11.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, May 13th. Cintas’s dividend payout ratio (DPR) is currently 33.60%.

About Cintas (Get Rating)

Cintas Corporation provides 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.

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