Cintas (NASDAQ:CTAS) Price Target Raised to $213.00

Cintas (NASDAQ:CTAS) had its target price increased by Morgan Stanley from $195.00 to $213.00 in a report published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

A number of other research firms also recently weighed in on CTAS. Robert W. Baird lifted their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday. UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group dropped their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Citigroup began coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $210.58.

Cintas Stock Performance

CTAS stock opened at $203.22 on Thursday. Cintas has a 52 week low of $162.16 and a 52 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 market cap of $82.01 billion, a P/E ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41. The firm has a 50 day simple moving average of $201.01 and a 200 day simple moving average of $208.92.

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

Cintas Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas’s dividend payout ratio is 36.11%.

Institutional Investors Weigh In On Cintas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTAS. China Universal Asset Management Co. Ltd. raised its stake in Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC lifted its stake in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after purchasing an additional 6,341 shares during the period. Wellington Management Group LLP lifted its stake in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC grew its stake in Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares during the period. 63.46% of the stock is currently owned by 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.