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

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

A number of other equities research analysts also recently issued reports on CTAS. Wells Fargo & Company reduced their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday. Truist Financial boosted their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. UBS Group raised their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Morgan Stanley upped their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus target price of $195.90.

Cintas Stock Up 2.3 %

CTAS stock opened at $186.94 on Friday. The firm has a market capitalization of $75.39 billion, a PE ratio of 47.21, a PEG 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 $202.98. Cintas has a 1-year low of $142.18 and a 1-year high of $228.12. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating 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 previous year, the company posted $3.61 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Cintas will post 4.23 EPS for the current year.

Cintas Announces Dividend

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

Institutional Investors Weigh In On Cintas

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LGT Financial Advisors LLC boosted its stake in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after buying an additional 34 shares during the last quarter. Crewe Advisors LLC boosted its position in Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares during the period. Industrial Alliance Investment Management Inc. bought a new stake in Cintas during the 2nd quarter worth approximately $51,000. Finally, Anfield Capital Management LLC bought a new position in shares of Cintas during the second quarter valued at $53,000. 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.