Cintas (NASDAQ:CTAS) Price Target Raised to $257.00

Cintas (NASDAQ:CTAS) had its price objective increased by The Goldman Sachs Group from $233.00 to $257.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

CTAS has been the subject of a number of other research reports. Wells Fargo & Company upgraded Cintas from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $196.00 to $221.00 in a research report on Tuesday. Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective for the company. in a research report on Thursday, May 1st. Royal Bank Of Canada restated a “sector perform” rating and set a $240.00 price objective (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Morgan Stanley raised their price objective on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Finally, Robert W. Baird raised their price objective on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Two investment analysts have 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 to the stock. According to data from MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $219.58.

Cintas Trading Up 1.5%

Shares of Cintas stock opened at $218.83 on Wednesday. The firm has a market cap of $88.36 billion, a price-to-earnings ratio of 50.68, a PEG ratio of 3.42 and a beta of 1.05. The business has a 50-day moving average price of $220.01 and a 200-day moving average price of $205.99. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. Cintas has a twelve month low of $174.44 and a twelve month high of $229.24.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas’s dividend payout ratio is currently 36.11%.

Insider Activity

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director owned 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer owned 256,528 shares of the company’s stock, valued at $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Cintas by 3.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider’s stock valued at $258,000 after buying an additional 47 shares during the period. Oarsman Capital Inc. boosted its position in shares of Cintas by 3.9% during the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider’s stock valued at $272,000 after buying an additional 49 shares during the period. MJP Associates Inc. ADV boosted its position in shares of Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after buying an additional 50 shares during the period. Truvestments Capital LLC raised its stake in shares of Cintas by 17.4% during the first quarter. Truvestments Capital LLC now owns 338 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 50 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its stake in shares of Cintas by 4.1% during the first quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider’s stock valued at $266,000 after acquiring an additional 51 shares in the last quarter. 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.