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

Royal Bank of Canada reaffirmed their sector perform rating on shares of Cintas (NASDAQ:CTAS) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $215.00 price objective on the business services provider’s stock.

CTAS has been the topic of a number of other reports. Morgan Stanley boosted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Barclays upped their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Robert W. Baird cut their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Trading Up 2.3 %

NASDAQ:CTAS opened at $186.94 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $75.39 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. Cintas has a 1-year low of $142.18 and a 1-year high of $228.12. The stock has a fifty day simple moving average of $214.31 and a 200 day simple moving average of $203.21.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business earned $3.61 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Cintas will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

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

Institutional Inflows and Outflows

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