Cintas (NASDAQ:CTAS) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Cintas (NASDAQ:CTAS) from a hold rating to a buy rating in a research report report published on Wednesday morning.

CTAS has been the subject of a number of other reports. Stifel Nicolaus boosted their target price on Cintas from $521.00 to $526.00 and gave the company a hold rating in a research note on Wednesday, September 27th. Barclays increased their target price on Cintas from $500.00 to $550.00 and gave the stock an overweight rating in a research note on Friday, July 14th. Argus lifted their price target on shares of Cintas from $510.00 to $540.00 in a research note on Friday, July 14th. Wells Fargo & Company boosted their price objective on shares of Cintas from $470.00 to $500.00 and gave the company an equal weight rating in a research report on Friday, July 14th. Finally, Morgan Stanley upped their target price on shares of Cintas from $419.00 to $441.00 and gave the stock an equal weight rating in a research note on Friday, July 14th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $527.93.

Cintas Stock Up 0.2 %

Shares of Cintas stock opened at $527.21 on Wednesday. Cintas has a 12 month low of $419.76 and a 12 month high of $528.96. The business has a fifty day simple moving average of $503.66 and a 200 day simple moving average of $490.71. The company has a quick ratio of 2.13, a current ratio of 2.56 and a debt-to-equity ratio of 0.61. The stock has a market cap of $53.70 billion, a PE ratio of 39.67, a price-to-earnings-growth ratio of 3.05 and a beta of 1.29.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, September 26th. The business services provider reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.03. Cintas had a net margin of 15.36% and a return on equity of 36.82%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the company posted $3.39 EPS. Cintas’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts predict that Cintas will post 14.37 EPS for the current year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $5.40 dividend on an annualized basis and a yield of 1.02%. Cintas’s payout ratio is 40.63%.

Insiders Place Their Bets

In other news, Director Melanie W. Barstad sold 1,968 shares of Cintas stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $514.17, for a total value of $1,011,886.56. Following the completion of the transaction, the director now owns 6,250 shares of the company’s stock, valued at approximately $3,213,562.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 14.90% of the company’s stock.

Institutional Trading of Cintas

A number of hedge funds have recently made changes to their positions in CTAS. Quarry LP boosted its position in Cintas by 221.1% during the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after purchasing an additional 42 shares during the period. Fiduciary Alliance LLC acquired a new position in Cintas in the 2nd quarter valued at about $29,000. Newbridge Financial Services Group Inc. raised its holdings in Cintas by 321.4% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 59 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Arlington Partners LLC lifted its position in Cintas by 1,700.0% during the second quarter. Arlington Partners LLC now owns 72 shares of the business services provider’s stock worth $36,000 after acquiring an additional 68 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Cintas during the first quarter worth approximately $36,000. 62.26% of the stock is owned by institutional investors and hedge funds.

Cintas Company Profile

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.