Cintas (NASDAQ:CTAS) Price Target Lowered to $160.00 at Citigroup

Cintas (NASDAQ:CTAS) had its price objective lowered by Citigroup from $181.00 to $160.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a sell rating on the business services provider’s stock.

Several other research firms have also issued reports on CTAS. Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and upped their target price for the stock from $205.00 to $245.00 in a report on Wednesday, January 14th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 11th. Morgan Stanley cut their price objective on Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Weiss Ratings upgraded Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Finally, Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.17.

Cintas Trading Up 0.3%

NASDAQ CTAS opened at $169.14 on Tuesday. The stock has a market capitalization of $67.64 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 3.02 and a beta of 0.95. The stock’s 50 day moving average price is $191.92 and its two-hundred day moving average price is $190.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas has a 52 week low of $165.60 and a 52 week high of $229.24.

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

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, February 13th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CTAS. Beacon Investment Advisors LLC raised its holdings in shares of Cintas by 3.2% in the 2nd quarter. Beacon Investment Advisors LLC now owns 1,725 shares of the business services provider’s stock worth $381,000 after acquiring an additional 53 shares during the last quarter. One Capital Management LLC lifted its position in Cintas by 0.9% in the 4th quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after acquiring an additional 53 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in Cintas by 1.1% during the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock worth $951,000 after buying an additional 54 shares in the last quarter. Woodward Diversified Capital LLC lifted its stake in Cintas by 4.7% during the 3rd quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 55 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Cintas by 0.8% in the 3rd quarter. Continuum Advisory LLC now owns 6,894 shares of the business services provider’s stock worth $1,415,000 after acquiring an additional 56 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.