Cintas (NASDAQ:CTAS) Given New $215.00 Price Target at Royal Bank of Canada

by · The Markets Daily

Cintas (NASDAQ:CTAS – Free Report) had its target price raised by Royal Bank of Canada from $181.00 to $215.00 in a research report released on Thursday morning, Benzinga reports. They currently have a sector perform rating on the business services provider’s stock.

A number of other research firms also recently issued reports on CTAS. Wells Fargo & Company upgraded shares of Cintas to a strong sell rating in a research report on Tuesday, August 13th. UBS Group boosted their price objective on Cintas from $197.50 to $218.50 and gave the company a buy rating in a report on Friday, July 19th. Morgan Stanley lifted their price target on Cintas from $143.75 to $156.25 and gave the company an equal weight rating in a research report on Friday, July 19th. StockNews.com upgraded Cintas from a hold rating to a buy rating in a research report on Friday, June 14th. Finally, Robert W. Baird lifted their target price on shares of Cintas from $194.00 to $209.00 and gave the company a neutral rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $199.63.

View Our Latest Analysis on Cintas

Cintas Stock Performance

Shares of CTAS stock opened at $202.35 on Thursday. The business has a fifty day moving average of $208.88 and a 200 day moving average of $184.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The firm has a market capitalization of $20.53 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas has a 1 year low of $119.69 and a 1 year high of $211.57.

Cintas (NASDAQ:CTAS – Get Free Report) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm earned $3.70 earnings per share. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, research analysts expect that Cintas will post 4.16 earnings per share for the current year.

Cintas announced that its Board of Directors has approved a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cintas

A number of institutional investors and hedge funds have recently bought and sold shares of CTAS. Vantage Financial Partners LLC acquired a new position in shares of Cintas during the 4th quarter worth approximately $1,029,000. Aveo Capital Partners LLC boosted its stake in Cintas by 4.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after buying an additional 44 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Cintas by 8.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock valued at $3,797,000 after buying an additional 502 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Cintas by 11.6% in the 4th quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock worth $671,000 after acquiring an additional 116 shares during the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new position in shares of Cintas during the 4th quarter worth $1,471,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

About Cintas

(Get Free Report)

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.

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