Cintas (NASDAQ:CTAS) Price Target Raised to $181.00

Cintas (NASDAQ:CTAS) had its target price hoisted by Citigroup from $180.00 to $181.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a sell rating on the business services provider’s stock.

Several other research analysts also recently commented on CTAS. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 target price on shares of Cintas in a report on Thursday, September 24th. Robert W. Baird set a $222.00 price target on Cintas and gave the company an “outperform” rating in a research note on Thursday, September 24th. Wells Fargo & Company restated an “overweight” rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Argus lifted their price objective on Cintas from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Eight 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.08.

Cintas Price Performance

CTAS stock opened at $193.02 on Wednesday. The company has a market capitalization of $77.34 billion, a P/E ratio of 38.07, a PEG ratio of 3.11 and a beta of 0.92. The company has a fifty day moving average price of $201.57 and a 200-day moving average price of $185.59. 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.

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

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is 41.03%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Cintas during the second quarter worth approximately $4,520,425,000. Bank of New York Mellon Corp acquired a new position in Cintas in the second quarter valued at approximately $644,334,000. Goldman Sachs Group Inc. lifted its stake in Cintas by 2.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,438,568 shares of the business services provider’s stock valued at $458,622,000 after buying an additional 50,838 shares during the period. Amundi lifted its stake in Cintas by 6.3% in the first quarter. Amundi now owns 2,402,362 shares of the business services provider’s stock valued at $406,336,000 after buying an additional 142,576 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Cintas during the 2nd quarter worth approximately $386,159,000. 63.46% of the stock is owned by institutional investors and hedge funds.

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.