Analysts Set Cintas Co. (NASDAQ:CTAS) Price Target at $197.30

Shares of Cintas Co. (NASDAQ:CTAS) have earned an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $199.63.

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Morgan Stanley upped their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Cintas

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Cintas by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after purchasing an additional 112,361 shares during the period. Legal & General Group Plc raised its holdings in shares of Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after buying an additional 3,471 shares during the last quarter. Nordea Investment Management AB increased its position in Cintas by 6.3% in the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after acquiring an additional 37,727 shares during the period. SG Americas Securities LLC raised its stake in Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Cintas by 21.1% during the 2nd quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after acquiring an additional 67,440 shares during the period. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

CTAS stock opened at $204.55 on Friday. The firm has a 50 day moving average of $210.09 and a 200-day moving average of $185.32. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The company has a market cap of $20.75 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 4.09 and a beta of 1.32. Cintas has a 12-month low of $119.86 and a 12-month high of $211.57.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.70 earnings per share. As a group, equities analysts expect that Cintas will post 4.16 EPS for the current fiscal year.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s payout ratio is 10.77%.

Cintas announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

About Cintas

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.