Cintas (NASDAQ:CTAS) Given New $213.00 Price Target at Morgan Stanley

Cintas (NASDAQ:CTAS) had its price target hoisted by Morgan Stanley from $195.00 to $213.00 in a research note published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

A number of other analysts also recently issued reports on the company. UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group reduced their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research report on Thursday. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $210.58.

Cintas Trading Down 1.5 %

Shares of CTAS stock opened at $203.22 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas has a 12-month low of $162.16 and a 12-month high of $228.12. The stock has a market capitalization of $82.01 billion, a P/E ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41. The firm’s 50 day moving average is $201.01 and its 200 day moving average is $208.92.

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

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.77%. Cintas’s dividend payout ratio (DPR) is 36.11%.

Institutional Trading of Cintas

Several hedge funds and other institutional investors have recently made changes to their positions in CTAS. Sound Income Strategies LLC purchased a new position in Cintas in the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Cintas in the fourth quarter valued at $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Cintas in the fourth quarter valued at $31,000. IAG Wealth Partners LLC raised its stake in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after buying an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

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.