Morgan Stanley Boosts Cintas (NASDAQ:CTAS) Price Target to $202.00

Cintas (NASDAQ:CTAS) had its price target boosted by Morgan Stanley from $185.00 to $202.00 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

Several other equities analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Barclays raised their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Finally, UBS Group boosted their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus price target of $200.77.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $211.22 on Thursday. Cintas has a one year low of $138.39 and a one year high of $228.12. The firm has a market capitalization of $85.19 billion, a price-to-earnings ratio of 53.34, a PEG ratio of 4.15 and a beta of 1.33. 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 business has a fifty day simple moving average of $215.13 and a 200 day simple moving average of $202.15.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.70 EPS. Sell-side analysts expect that Cintas will post 4.23 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were paid a $0.39 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. Cintas’s dividend payout ratio is presently 39.39%.

Institutional Investors Weigh In On Cintas

A number of institutional investors and hedge funds have recently modified their holdings of CTAS. Wellington Management Group LLP increased its holdings in shares of Cintas by 211.7% during the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after acquiring an additional 529,005 shares during the last quarter. Atria Investments Inc increased its position in shares of Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after purchasing an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after buying an additional 86,460 shares in the last quarter. Creative Planning raised its position in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Finally, Western Financial Corp CA lifted its position in shares of Cintas by 628.2% during the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after buying an additional 10,177 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

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.