Cintas (NASDAQ:CTAS) Price Target Raised to $240.00

Cintas (NASDAQ:CTAS) had its price target boosted by Argus from $230.00 to $240.00 in a report published on Tuesday, Marketbeat reports. The firm currently has a buy rating on the business services provider’s stock.

Several other brokerages have also weighed in on CTAS. The Goldman Sachs Group reissued a “buy” rating and set a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. UBS Group restated a “buy” rating and issued a $235.00 target price (up from $230.00) on shares of Cintas in a research note on Thursday, September 24th. Citigroup reiterated a “sell” rating and set a $180.00 price target (up from $175.00) on shares of Cintas in a research note on Tuesday, September 22nd. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 11th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $216.08.

Cintas Stock Performance

Shares of CTAS stock opened at $195.60 on Tuesday. The firm has a market cap of $78.38 billion, a price-to-earnings ratio of 38.58, a P/E/G ratio of 3.10 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45. Cintas has a 52 week low of $161.16 and a 52 week high of $219.16. The firm’s 50-day simple moving average is $201.83 and its two-hundred day simple moving average is $185.54.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, equities analysts forecast that Cintas will post 5.52 earnings per share for the current year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 14th. Cintas’s dividend payout ratio (DPR) is presently 41.03%.

Institutional Trading of Cintas

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Cintas during the 2nd quarter worth approximately $4,520,425,000. Bank of New York Mellon Corp purchased a new stake in Cintas in the 2nd quarter worth approximately $644,334,000. Legal & General Group Plc bought a new position in Cintas in the 2nd quarter valued at $386,159,000. Bank of America Corp DE bought a new position in Cintas in the 2nd quarter valued at $233,111,000. Finally, Deutsche Bank AG purchased a new position in shares of Cintas during the 2nd quarter valued at $204,831,000. 63.46% of the stock is currently owned by institutional investors.

About Cintas

Cintas Corporation (NASDAQ: CTAS) provides workplace services to businesses and organizations across North America. The company’s primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.