Truist Financial Cuts Cintas (NASDAQ:CTAS) Price Target to $215.00

Cintas (NASDAQ:CTAS) had its target price trimmed by Truist Financial from $225.00 to $215.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

CTAS has been the topic of a number of other reports. Robert W. Baird decreased their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday. 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 research note on Thursday, September 26th. Morgan Stanley increased their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, Barclays boosted their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $198.46.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $186.94 on Friday. The business’s 50 day moving average is $214.31 and its 200-day moving average is $203.21. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $75.39 billion, a PE ratio of 47.21, a PEG ratio of 4.15 and a beta of 1.33. Cintas has a 1-year low of $142.18 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 16.80% and a return on equity of 39.56%. 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 prior year, the company posted $3.61 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that Cintas will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.83%. Cintas’s dividend payout ratio is currently 39.39%.

Institutional Investors Weigh In On Cintas

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares during the last quarter. Atria Investments Inc boosted its position in shares of Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after purchasing an additional 16,623 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after purchasing an additional 86,460 shares during the period. Creative Planning increased its holdings in Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Cintas in the third quarter valued at about $23,779,000. Institutional investors and hedge funds 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.