Cintas Co. (NASDAQ:CTAS) Receives Average Recommendation of “Hold” from Brokerages

Shares of Cintas Co. (NASDAQ:CTAS) have earned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $213.62.

A number of brokerages have commented on CTAS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. Citigroup started coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Morgan Stanley boosted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Finally, Robert W. Baird increased their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th.

Insiders Place Their Bets

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Cintas

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

Cintas Stock Up 1.7 %

Shares of NASDAQ CTAS opened at $209.62 on Tuesday. The business has a 50-day moving average of $201.25 and a 200-day moving average of $204.28. The firm has a market capitalization of $84.64 billion, a price-to-earnings ratio of 50.54, a PEG ratio of 3.98 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas has a 12 month low of $162.16 and a 12 month high of $228.12.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s dividend payout ratio is presently 36.11%.

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.