Cintas Corporation (NASDAQ:CTAS) Receives $216.92 Consensus PT from Brokerages

Shares of Cintas Corporation (NASDAQ:CTAS) have earned an average recommendation of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $215.1667.

CTAS has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Morgan Stanley dropped their price target on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Wells Fargo & Company upgraded shares of Cintas from a “cautious” rating to an “overweight” rating and increased their price objective for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research note on Friday, December 19th.

Cintas Stock Up 1.3%

Shares of Cintas stock opened at $174.34 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. Cintas has a 1-year low of $165.60 and a 1-year high of $229.24. The business’s fifty day moving average price is $191.08 and its two-hundred day moving average price is $190.68. The company has a market capitalization of $69.72 billion, a P/E ratio of 49.25, a PEG ratio of 3.08 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 earnings per share. As a group, research analysts forecast that Cintas will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, February 13th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Institutional Trading of Cintas

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Cintas during the fourth quarter worth about $923,672,000. Two Sigma Investments LP raised its position in Cintas by 5,641.3% in the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock worth $208,682,000 after acquiring an additional 998,963 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Cintas by 2,653.0% in the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock valued at $188,640,000 after acquiring an additional 966,597 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in Cintas by 275.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock valued at $230,556,000 after acquiring an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP boosted its position in shares of Cintas by 5,341.8% during the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock valued at $153,352,000 after purchasing an additional 733,380 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.