Cintas (NASDAQ:CTAS) Board of Directors Announces Stock Repurchase Program

Cintas (NASDAQ:CTAS) announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 28th, RTT News reports. The company plans to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Citigroup lifted their price target on Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research note on Friday, September 26th. Royal Bank Of Canada dropped their price target on Cintas from $240.00 to $206.00 and set a “sector perform” rating for the company in a research note on Thursday, September 25th. Robert W. Baird lifted their price target on Cintas from $227.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cintas in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and an average target price of $222.09.

Cintas Stock Up 0.6%

Shares of NASDAQ:CTAS opened at $189.89 on Wednesday. Cintas has a 1 year low of $180.78 and a 1 year high of $229.24. The company has a market cap of $76.31 billion, a PE ratio of 43.06, a P/E/G ratio of 3.26 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. The stock’s 50-day moving average is $200.68 and its 200 day moving average is $212.29.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the business earned $1.10 EPS. Cintas’s revenue was up 8.7% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Sell-side analysts anticipate that Cintas will post 4.31 EPS for the current year.

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.