Cintas (NASDAQ:CTAS) Price Target Raised to $202.00

Cintas (NASDAQ:CTAS) had its target price boosted by Morgan Stanley from $185.00 to $202.00 in a research note published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

Several other equities analysts have also weighed in on CTAS. Jefferies Financial Group reduced their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Truist Financial raised their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Finally, Robert W. Baird raised their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $200.77.

Cintas Trading Down 0.2 %

Shares of Cintas stock opened at $211.22 on Thursday. The firm has a market cap of $85.19 billion, a PE ratio of 53.34, a P/E/G ratio of 4.15 and a beta of 1.33. The business’s fifty day moving average is $215.13 and its two-hundred day moving average is $202.15. Cintas has a fifty-two week low of $138.39 and a fifty-two week high of $228.12. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business posted $3.70 earnings per share. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts anticipate that Cintas will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were paid a $0.39 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. Cintas’s dividend payout ratio is currently 39.39%.

Institutional Trading of Cintas

A number of large investors have recently added to or reduced their stakes in CTAS. Lord Abbett & CO. LLC purchased a new position in shares of Cintas in the third quarter worth approximately $23,779,000. B. Riley Wealth Advisors Inc. raised its stake in shares of Cintas by 256.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,952 shares of the business services provider’s stock worth $401,000 after purchasing an additional 1,405 shares in the last quarter. Brass Tax Wealth Management Inc. lifted its stake in Cintas by 300.0% in the third quarter. Brass Tax Wealth Management Inc. now owns 1,816 shares of the business services provider’s stock valued at $374,000 after acquiring an additional 1,362 shares during the last quarter. 1ST Source Bank lifted its stake in shares of Cintas by 300.0% in the 3rd quarter. 1ST Source Bank now owns 1,652 shares of the business services provider’s stock valued at $340,000 after purchasing an additional 1,239 shares during the last quarter. Finally, Logan Capital Management Inc. lifted its position in shares of Cintas by 294.8% in the third quarter. Logan Capital Management Inc. now owns 141,381 shares of the business services provider’s stock worth $29,107,000 after buying an additional 105,574 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

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.