Cintas (NASDAQ:CTAS) PT Lowered to $210.00

Cintas (NASDAQ:CTAS) had its price objective decreased by Barclays from $850.00 to $210.00 in a report published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

CTAS has been the topic of a number of other reports. Citigroup lowered shares of Cintas from a neutral rating to a sell rating and upped their target price for the stock from $132.50 to $142.50 in a research note on Friday, May 24th. Stifel Nicolaus boosted their price target on shares of Cintas from $166.75 to $199.50 and gave the company a hold rating in a research report on Friday, July 19th. UBS Group lifted their target price on Cintas from $197.50 to $218.50 and gave the stock a buy rating in a research report on Friday, July 19th. StockNews.com raised Cintas from a hold rating to a buy rating in a research report on Friday, June 14th. Finally, Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They set a neutral rating and a $167.50 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $185.41.

Cintas Trading Down 1.4 %

CTAS opened at $204.95 on Friday. The business’s 50 day moving average price is $204.83 and its 200 day moving average price is $181.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The stock has a market capitalization of $20.79 billion, a PE ratio of 14.15, a P/E/G ratio of 4.36 and a beta of 1.32. Cintas has a one year low of $118.68 and a one year high of $209.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 EPS. As a group, equities research analysts expect that Cintas will post 16.64 EPS for the current year.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is presently 10.77%.

Cintas declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Cintas

Hedge funds have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC grew its holdings in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after buying an additional 14 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares during the period. Field & Main Bank increased its stake in Cintas by 25.0% in the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares during the last quarter. Drive Wealth Management LLC increased its stake in Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 16 shares during the last quarter. Finally, TIAA Trust National Association lifted its position in Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after buying an additional 16 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

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.