Cintas (NASDAQ:CTAS – Free Report) had its target price cut by The Goldman Sachs Group from $236.00 to $211.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.
A number of other research analysts also recently commented on the company. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial reduced their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company lowered their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday. Jefferies Financial Group reduced their price objective 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, Robert W. Baird lowered their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $198.46.
Check Out Our Latest Stock Analysis on Cintas
Cintas Stock Performance
Cintas (NASDAQ:CTAS – Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the firm posted $3.61 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Cintas will post 4.23 EPS for the current fiscal year.
Cintas Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.83%. Cintas’s dividend payout ratio (DPR) is 39.39%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. LGT Financial Advisors LLC lifted its holdings in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Meeder Asset Management Inc. increased its position 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 worth $34,000 after acquiring an additional 34 shares during the period. Crewe Advisors LLC raised its stake 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 valued at $39,000 after acquiring an additional 32 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Cintas in the second quarter valued at approximately $51,000. Finally, Anfield Capital Management LLC bought a new position in Cintas in 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.
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