Cintas (NASDAQ:CTAS) Given New $196.00 Price Target at Wells Fargo & Company

Cintas (NASDAQ:CTAS) had its price target lifted by Wells Fargo & Company from $184.00 to $196.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley increased their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Truist Financial dropped their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Finally, Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $207.57.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $206.25 on Thursday. The business’s 50-day simple moving average is $200.91 and its 200 day simple moving average is $208.87. 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 company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas has a one year low of $162.16 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.84 earnings per share. On average, sell-side analysts forecast that Cintas will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were paid 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 (DPR) is 36.11%.

Hedge Funds Weigh In On Cintas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DSG Capital Advisors LLC bought a new stake in shares of Cintas in the 4th quarter worth approximately $958,000. 111 Capital acquired a new stake in Cintas in the fourth quarter worth $4,653,000. Smith Shellnut Wilson LLC ADV lifted its stake in Cintas by 8.2% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 5,768 shares of the business services provider’s stock valued at $1,054,000 after buying an additional 436 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Cintas in the fourth quarter valued at $69,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Cintas during the fourth quarter valued at $66,909,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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.