Royal Bank of Canada Issues Positive Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its target price hoisted by Royal Bank of Canada from $215.00 to $240.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the business services provider’s stock.

Other research analysts have also issued research reports about the company. Robert W. Baird increased their price target on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. UBS Group increased their target price on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Finally, Truist Financial upped their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $215.81.

Cintas Stock Down 1.3%

Cintas stock opened at $224.60 on Monday. The company has a market capitalization of $90.69 billion, a PE ratio of 54.15, a PEG ratio of 3.98 and a beta of 1.07. Cintas has a 12-month low of $169.46 and a 12-month high of $229.24. The firm’s fifty day moving average is $213.03 and its 200 day moving average is $205.48. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm posted $3.84 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cintas will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s dividend payout ratio is presently 36.11%.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTAS. WPG Advisers LLC bought a new position in Cintas during the first quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas during the 4th quarter valued at $29,000. Saudi Central Bank purchased a new stake in Cintas during the 1st quarter worth about $29,000. IAG Wealth Partners LLC boosted its stake in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in Cintas during the 4th quarter valued at about $34,000. Institutional investors 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.