Robert W. Baird Raises Cintas (NASDAQ:CTAS) Price Target to $209.00

Cintas (NASDAQ:CTAS) had its target price increased by Robert W. Baird from $194.00 to $209.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

Several other brokerages have also issued reports on CTAS. UBS Group boosted their target price on Cintas from $197.50 to $218.50 and gave the company a buy rating in a research note on Friday, July 19th. Royal Bank of Canada downgraded shares of Cintas from an outperform rating to a sector perform rating and set a $181.25 target price for the company. in a research note on Monday, July 15th. StockNews.com raised shares of Cintas from a hold rating to a buy rating in a research report on Friday, June 14th. Barclays cut their price objective on shares of Cintas from $850.00 to $210.00 and set an overweight rating for the company in a report on Friday, September 13th. Finally, Stifel Nicolaus boosted their target price on shares of Cintas from $166.75 to $199.50 and gave the company a hold rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $202.35 on Thursday. The company has a market capitalization of $20.53 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. The company’s 50-day moving average is $208.88 and its 200 day moving average is $184.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. Cintas has a fifty-two week low of $119.69 and a fifty-two week high of $211.57.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company earned $3.70 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Cintas will post 4.16 earnings per share for the current year.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s payout ratio is 10.77%.

Cintas declared that its board has authorized a stock buyback program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a filing with the SEC, which is available through this link. 15.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTAS. Checchi Capital Advisers LLC raised its position in Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after purchasing an additional 14 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after buying an additional 14 shares during the last quarter. Field & Main Bank boosted its stake in Cintas by 25.0% in the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after buying an additional 15 shares in the last quarter. Drive Wealth Management LLC grew its position in Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 16 shares during the last quarter. Finally, TIAA Trust National Association raised its stake in shares of Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

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.