UBS Group Cuts Cintas (NASDAQ:CTAS) Price Target to $218.00

Cintas (NASDAQ:CTAS) had its price objective cut by UBS Group from $240.00 to $218.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday. Robert W. Baird decreased their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday. Truist Financial dropped their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley increased their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $198.46.

Cintas Trading Up 2.3 %

Shares of NASDAQ:CTAS opened at $186.94 on Friday. The company has a market capitalization 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. The business’s 50 day simple moving average is $214.31 and its 200 day simple moving average is $203.21. Cintas has a 1 year low of $142.18 and a 1 year high of $228.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

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

Cintas Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC boosted its stake in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC grew its holdings in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after buying an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 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.