Cintas (NASDAQ:CTAS) Price Target Raised to $725.00 at Royal Bank of Canada

Cintas (NASDAQ:CTASFree Report) had its target price hoisted by Royal Bank of Canada from $675.00 to $725.00 in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has an outperform rating on the business services provider’s stock.

Several other equities research analysts have also weighed in on CTAS. JPMorgan Chase & Co. lifted their price objective on Cintas from $540.00 to $640.00 and gave the stock an overweight rating in a report on Friday, December 22nd. Barclays raised their price objective on Cintas from $630.00 to $700.00 and gave the company an overweight rating in a report on Thursday, February 29th. StockNews.com raised Cintas from a hold rating to a buy rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut Cintas from a buy rating to a hold rating and raised their price objective for the company from $551.00 to $590.00 in a report on Friday, December 8th. Finally, Bank of America raised their price objective on Cintas from $700.00 to $790.00 and gave the company a buy rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Cintas has a consensus rating of Moderate Buy and an average price target of $649.60.

View Our Latest Stock Analysis on CTAS

Cintas Price Performance

Shares of CTAS opened at $687.03 on Thursday. Cintas has a 12-month low of $438.59 and a 12-month high of $704.84. The business’s fifty day moving average is $620.99 and its 200 day moving average is $567.53. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.62. The stock has a market cap of $69.64 billion, a P/E ratio of 49.86, a P/E/G ratio of 3.67 and a beta of 1.27.

Cintas (NASDAQ:CTASGet Free Report) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm posted $3.14 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Cintas will post 14.57 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 14th. Cintas’s payout ratio is 39.19%.

Institutional Trading of Cintas

Several hedge funds have recently bought and sold shares of the stock. Quarry LP boosted its stake in shares of Cintas by 221.1% in the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after acquiring an additional 42 shares during the period. Janiczek Wealth Management LLC boosted its stake in Cintas by 113.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after buying an additional 26 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Cintas during the first quarter valued at approximately $36,000. Catalyst Capital Advisors LLC boosted its stake in Cintas by 33.9% during the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after buying an additional 19 shares during the last quarter. Finally, Clearstead Advisors LLC bought a new position in Cintas during the third quarter valued at approximately $39,000. 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.

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Analyst Recommendations for Cintas (NASDAQ:CTAS)

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