Truist Financial Issues Pessimistic Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price target reduced by Truist Financial from $225.00 to $215.00 in a report published on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

Other equities research analysts have also issued reports about the stock. UBS Group raised their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Finally, Wells Fargo & Company reduced their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $198.46.

Cintas Stock Performance

Shares of Cintas stock opened at $186.94 on Friday. The stock’s fifty day simple moving average is $214.31 and its 200 day simple moving average is $203.21. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company 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. Cintas has a 12 month low of $142.18 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business posted $3.61 EPS. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts predict that Cintas will post 4.23 EPS for the current year.

Cintas Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% in 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 during the last quarter. Meeder Asset Management Inc. lifted its position in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares during the last quarter. Crewe Advisors LLC boosted its holdings in shares of Cintas by 133.3% during the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after acquiring an additional 32 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in shares of Cintas in the second quarter valued at approximately $51,000. Finally, Anfield Capital Management LLC bought a new position in shares of Cintas during the second quarter worth approximately $53,000. 63.46% of the stock is currently owned by institutional investors.

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.