The Goldman Sachs Group Boosts Cintas (NASDAQ:CTAS) Price Target to $233.00

Cintas (NASDAQ:CTAS) had its price objective lifted by The Goldman Sachs Group from $211.00 to $233.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other research analysts have also recently issued reports on CTAS. Truist Financial lifted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group lifted their price target on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday. Robert W. Baird raised their price objective on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Citigroup began coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 target price for the company. Two 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’s stock. Based on data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average target price of $207.57.

Cintas Stock Performance

NASDAQ:CTAS opened at $206.25 on Thursday. The company has a market cap of $83.23 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 3.98 and a beta of 1.41. Cintas has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a fifty day moving average price of $200.91 and a 200-day moving average price of $208.87.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the business posted $3.84 earnings per share. Cintas’s revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cintas will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

Hedge Funds Weigh In On Cintas

Several institutional investors have recently bought and sold shares of CTAS. Great Valley Advisor Group Inc. bought a new position in Cintas in the 3rd quarter worth about $223,000. Fisher Asset Management LLC grew its position in shares of Cintas by 178.3% during the 3rd quarter. Fisher Asset Management LLC now owns 2,460 shares of the business services provider’s stock valued at $507,000 after purchasing an additional 1,576 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Cintas by 311.3% in the third quarter. Loomis Sayles & Co. L P now owns 436 shares of the business services provider’s stock worth $90,000 after purchasing an additional 330 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Cintas in the third quarter worth $59,000. Finally, D.A. Davidson & CO. grew its position in Cintas by 293.3% during the third quarter. D.A. Davidson & CO. now owns 16,198 shares of the business services provider’s stock worth $3,335,000 after buying an additional 12,079 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

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.