Cintas Co. (NASDAQ:CTAS) Receives $664.07 Average Target Price from Brokerages

Shares of Cintas Co. (NASDAQ:CTAS) have been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $664.07.

Several equities research analysts have commented on CTAS shares. Barclays boosted their price target on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Robert W. Baird boosted their price objective on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. The Goldman Sachs Group boosted their price objective on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada boosted their price objective on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th.

Cintas Trading Up 0.3 %

Shares of NASDAQ CTAS opened at $708.51 on Wednesday. The company’s fifty day moving average is $682.77 and its 200-day moving average is $637.78. The stock has a market cap of $71.89 billion, a price-to-earnings ratio of 48.93, a P/E/G ratio of 3.61 and a beta of 1.30. Cintas has a twelve month low of $474.74 and a twelve month high of $713.68. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas’s stock is set to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be payable to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the firm posted $3.14 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts predict that Cintas will post 14.95 EPS for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Insider Transactions at Cintas

In related news, COO Jim Rozakis sold 1,318 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $693.71, for a total value of $914,309.78. Following the completion of the transaction, the chief operating officer now owns 59,770 shares of the company’s stock, valued at approximately $41,463,046.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Jim Rozakis sold 1,318 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $693.71, for a total value of $914,309.78. Following the completion of the transaction, the chief operating officer now owns 59,770 shares of the company’s stock, valued at approximately $41,463,046.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 2,291 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total transaction of $1,589,839.45. Following the completion of the transaction, the director now directly owns 6,655 shares of the company’s stock, valued at approximately $4,618,237.25. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cintas

Several large investors have recently modified their holdings of CTAS. QRG Capital Management Inc. bought a new position in shares of Cintas during the third quarter valued at $1,025,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Cintas during the third quarter valued at $1,224,000. Envestnet Asset Management Inc. raised its stake in shares of Cintas by 33.9% during the third quarter. Envestnet Asset Management Inc. now owns 79,934 shares of the business services provider’s stock valued at $38,449,000 after acquiring an additional 20,256 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Cintas during the third quarter valued at $339,000. Finally, Glenview Trust co raised its stake in shares of Cintas by 6.5% during the third quarter. Glenview Trust co now owns 886 shares of the business services provider’s stock valued at $426,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

About Cintas

Cintas Corporation provides 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.