Cintas’ (CTAS) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Cintas (NASDAQ:CTAS) in a research report report published on Thursday,Benzinga reports. They currently have a $215.00 price target on the business services provider’s stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group dropped their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial decreased their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Robert W. Baird boosted their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $207.57.

Cintas Stock Up 0.8 %

Shares of Cintas stock opened at $206.25 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company has a market cap of $83.23 billion, a P/E ratio of 49.73, a PEG ratio of 3.98 and a beta of 1.41. The firm’s 50 day moving average price is $200.91 and its 200-day moving average price is $208.87. Cintas has a 52-week low of $162.16 and a 52-week high of $228.12.

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

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is presently 36.11%.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently modified their holdings of CTAS. Sound Income Strategies LLC acquired a new position in Cintas in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Cintas during the 4th quarter worth approximately $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Cintas during the 4th quarter valued at approximately $31,000. IAG Wealth Partners LLC grew its stake in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Cintas in the 4th quarter worth $34,000. 63.46% of the stock is 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.