The Goldman Sachs Group Lowers Cintas (NASDAQ:CTAS) Price Target to $211.00

Cintas (NASDAQ:CTAS) had its price target lowered by The Goldman Sachs Group from $236.00 to $211.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

CTAS has been the subject of a number of other reports. Robert W. Baird reduced 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Friday. Truist Financial lowered their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday. Barclays upped their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company lowered their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $198.46.

Cintas Trading Up 2.3 %

NASDAQ:CTAS opened at $186.94 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a 50-day simple moving average of $214.31 and a 200-day simple moving average of $203.21. Cintas has a one year low of $142.18 and a one year high of $228.12. The firm has a market cap of $75.39 billion, a P/E ratio of 47.21, a P/E/G ratio of 4.15 and a beta of 1.33.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business earned $3.61 earnings per share. Cintas’s revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that Cintas will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

Institutional Investors Weigh In On Cintas

A number of large investors have recently bought and sold shares of CTAS. Principal Financial Group Inc. lifted its position in Cintas by 301.5% during the third quarter. Principal Financial Group Inc. now owns 503,522 shares of the business services provider’s stock valued at $103,665,000 after purchasing an additional 378,101 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Cintas during the 3rd quarter valued at about $23,779,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Cintas by 256.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,952 shares of the business services provider’s stock valued at $401,000 after buying an additional 1,405 shares during the period. Brass Tax Wealth Management Inc. boosted its stake in shares of Cintas by 300.0% in the third quarter. Brass Tax Wealth Management Inc. now owns 1,816 shares of the business services provider’s stock worth $374,000 after buying an additional 1,362 shares during the last quarter. Finally, 1ST Source Bank boosted its stake in shares of Cintas by 300.0% in the third quarter. 1ST Source Bank now owns 1,652 shares of the business services provider’s stock worth $340,000 after buying an additional 1,239 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

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.