Cintas (NASDAQ:CTAS) Price Target Increased to $790.00 by Analysts at Bank of America

Cintas (NASDAQ:CTASFree Report) had its price objective upped by Bank of America from $700.00 to $790.00 in a report published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other equities research analysts have also recently commented on CTAS. Truist Financial increased their price objective on shares of Cintas from $645.00 to $660.00 and gave the company a buy rating in a research note on Thursday, January 25th. Royal Bank of Canada increased their price objective on shares of Cintas from $525.00 to $645.00 and gave the company an outperform rating in a research note on Friday, December 22nd. Deutsche Bank Aktiengesellschaft cut shares of Cintas from a buy rating to a hold rating and increased their price objective for the company from $551.00 to $590.00 in a research note on Friday, December 8th. Barclays upped their target price on shares of Cintas from $630.00 to $700.00 and gave the company an overweight rating in a report on Thursday, February 29th. Finally, StockNews.com upgraded shares of Cintas from a hold rating to a buy rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Cintas has an average rating of Moderate Buy and an average price target of $649.60.

Get Our Latest Stock Analysis on Cintas

Cintas Stock Performance

NASDAQ:CTAS opened at $687.03 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.62. Cintas has a fifty-two week low of $438.59 and a fifty-two week high of $704.84. The stock has a market cap of $69.64 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 3.67 and a beta of 1.27. The firm’s fifty day simple moving average is $620.99 and its 200-day simple moving average is $567.53.

Cintas (NASDAQ:CTASGet Free Report) last posted its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the company posted $3.14 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts expect that Cintas will post 14.57 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were issued a $1.35 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $5.40 annualized dividend and a yield of 0.79%. Cintas’s payout ratio is 39.19%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Columbus Macro LLC raised its holdings in Cintas by 1.2% in the fourth quarter. Columbus Macro LLC now owns 1,453 shares of the business services provider’s stock valued at $871,000 after buying an additional 17 shares during the period. Quent Capital LLC raised its holdings in Cintas by 22.8% in the fourth quarter. Quent Capital LLC now owns 97 shares of the business services provider’s stock valued at $59,000 after buying an additional 18 shares during the period. Greenleaf Trust raised its holdings in Cintas by 1.0% in the third quarter. Greenleaf Trust now owns 1,899 shares of the business services provider’s stock valued at $913,000 after buying an additional 19 shares during the period. Catalyst Capital Advisors LLC grew its position in Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 19 shares in the last quarter. Finally, RMB Capital Management LLC grew its position in Cintas by 2.9% in the fourth quarter. RMB Capital Management LLC now owns 680 shares of the business services provider’s stock valued at $410,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Cintas (NASDAQ:CTAS)

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.