Citigroup Begins Coverage on Cintas (NASDAQ:CTAS)

Citigroup assumed coverage on shares of Cintas (NASDAQ:CTAS) in a report issued on Monday, MarketBeat Ratings reports. The firm issued a sell rating and a $161.00 price target on the business services provider’s stock.

A number of other analysts also recently issued reports on CTAS. Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley boosted their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group dropped their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. UBS Group reduced their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Stock Performance

Shares of Cintas stock opened at $203.35 on Monday. The business has a 50-day simple moving average of $196.36 and a 200-day simple moving average of $208.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas has a one year low of $154.15 and a one year high of $228.12. The company has a market cap of $82.06 billion, a PE ratio of 49.03, a P/E/G ratio of 3.98 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business posted $3.61 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that Cintas will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas’s dividend payout ratio (DPR) is 37.59%.

Hedge Funds Weigh In On Cintas

A number of large investors have recently bought and sold shares of CTAS. Ballentine Partners LLC boosted its holdings in Cintas by 242.7% in the 3rd quarter. Ballentine Partners LLC now owns 2,190 shares of the business services provider’s stock valued at $451,000 after purchasing an additional 1,551 shares in the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of Cintas by 300.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 2,204 shares of the business services provider’s stock valued at $445,000 after buying an additional 1,653 shares during the period. Allworth Financial LP boosted its stake in shares of Cintas by 201.5% in the third quarter. Allworth Financial LP now owns 5,608 shares of the business services provider’s stock valued at $1,155,000 after buying an additional 3,748 shares in the last quarter. PFG Investments LLC acquired a new position in Cintas during the third quarter worth $263,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Cintas by 437.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 162,127 shares of the business services provider’s stock worth $33,379,000 after acquiring an additional 131,946 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

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.