Brokers set target price for Cintas Co. (NASDAQ:CTAS) at $457.11


Cintas Co. Shares (NASDAQ: CTASGet a rating) have been given an average “Buy” rating by the eleven brokerages that currently cover the business, Marketbeat.com reports. Three investment analysts rated the stock with a hold recommendation and six gave the company a buy recommendation. The average 1-year target price among brokerages that have reported on the stock in the past year is $457.11.

A number of research companies have recently published reports on CTAS. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a Monday, March 28 report. Bank of America began covering Cintas in a report on Friday, March 11. They set a “neutral” rating for the company. Argus reduced its price target on Cintas from $490.00 to $450.00 in a Friday, March 25 report. Goldman Sachs Group raised its price target on Cintas from $460.00 to $493.00 in a Wednesday, March 23 report. Finally, Morgan Stanley cut its price target on Cintas from $416.00 to $389.00 and set an “equal weight” rating for the company in a Thursday, March 24 report.

In related news, CAD Michael Lawrence Thompson sold 12,500 shares of the company in a transaction dated Friday, April 1. The stock was sold at an average price of $423.24, for a total value of $5,290,500.00. As a result of the transaction, the chief accounting officer now owns 28,933 shares of the company, valued at approximately $12,245,602.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, CFO J. Michael Hansen sold 8,200 shares of the company in a trade dated Tuesday, March 29. The shares were sold at an average price of $424.23, for a total value of $3,478,686.00. Disclosure of this sale can be found here. 14.90% of the shares are currently held by insiders.

A number of hedge funds have recently changed their holdings of CTAS. Carnegie Capital Asset Management LLC increased its holdings in Cintas by 12.5% ​​in the fourth quarter. Carnegie Capital Asset Management LLC now owns 14,536 shares of the business services provider valued at $6,442,000 after buying 1,613 additional shares last quarter. Advisor Group Holdings Inc. increased its holdings in Cintas by 2.5% in the third quarter. Advisor Group Holdings Inc. now owns 25,609 shares of the business services provider valued at $9,764,000 after buying 617 additional shares in the last quarter. State Farm Mutual Automobile Insurance Co. increased its stake in Cintas by 97.2% in Q3. State Farm Mutual Automobile Insurance Co. now owns 96,086 shares of the business service provider valued at $36,576,000 after purchasing an additional 47,353 shares in the last quarter. Westpac Banking Corp increased its stake in Cintas by 7.4% in the fourth quarter. Westpac Banking Corp now owns 7,213 shares of the business services provider valued at $3,197,000 after buying an additional 500 shares last quarter. Finally, Fifth Third Bancorp increased its stake in Cintas by 5.5% in the 4th quarter. Fifth Third Bancorp now owns 133,444 shares of the business services provider valued at $59,138,000 after buying an additional 6,995 shares in the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s shares.

Action CTAS traded lower from $5.17 in Friday’s midday session, hitting $381.57. 1,579 shares of the company were traded, against an average volume of 425,009. The company has a 50-day simple moving average of $402.58 and a two-hundred-day simple moving average of $411.45. The company has a current ratio of 1.02, a quick ratio of 0.84 and a debt ratio of 0.41. The stock has a market capitalization of $39.04 billion, a PE ratio of 33.61, a P/E/G ratio of 3.23 and a beta of 1.48. Cintas has a 1 year minimum of $338.00 and a 1 year maximum of $461.44.

Cinta (NASDAQ: CTASGet a rating) last released its results on Wednesday, March 23. The business services provider reported earnings per share (EPS) of $2.97 for the quarter, beating the consensus estimate of $2.44 by $0.53. The company posted revenue of $1.96 billion in the quarter, versus $1.91 billion expected by analysts. Cintas had a return on equity of 34.05% and a net margin of 15.88%. The company’s quarterly revenue increased by 10.3% compared to the same quarter last year. In the same quarter last year, the company earned earnings per share of $2.37. As a group, research analysts expect Cintas to post EPS of 11.24 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Monday, May 16 will receive a dividend of $0.95 per share. This represents a dividend of $3.80 on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, May 13. Cintas’ dividend payout ratio (DPR) is currently 33.60%.

About Cintas (Get a rating)

Cintas Corporation provides corporate identity uniforms and related business services primarily in the United States, Canada and Latin America. It operates through Uniform and Facility Rental Services, First Aid and Security Services and All Other segments. The company rents and maintains uniforms and other clothing, including fire-retardant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.

Read more

Analyst Recommendations for Cintas (NASDAQ: CTAS)



Get news and reviews for Cintas Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Cintas and related companies with MarketBeat.com’s FREE daily newsletter.