Cintas (NASDAQ:CTAS) Now Covered by Analysts at Citigroup

Citigroup began coverage on shares of Cintas (NASDAQ:CTAS) in a research note published on Monday morning, MarketBeat reports. The firm issued a sell rating and a $161.00 price objective on the business services provider’s stock.

CTAS has been the topic of several other research reports. Wells Fargo & Company decreased their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Morgan Stanley raised their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Robert W. Baird dropped their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Finally, The Goldman Sachs Group dropped their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and an average target price of $199.79.

Cintas Price Performance

Cintas stock opened at $203.35 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company’s fifty day moving average price is $196.36 and its 200 day moving average price is $208.51. The stock has a market capitalization of $82.06 billion, a P/E ratio of 49.03, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas has a 1 year low of $154.15 and a 1 year high of $228.12.

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

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.59%.

Hedge Funds Weigh In On Cintas

Several large investors have recently made changes to their positions in CTAS. Financial Management Professionals Inc. boosted its position in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management increased its stake in Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Cintas during the fourth quarter worth about $27,000. Addison Advisors LLC boosted its stake in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in shares of Cintas in the fourth quarter valued at approximately $29,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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.