Cintas (NASDAQ:CTAS) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Cintas (NASDAQ:CTAS) in a research note issued to investors on Thursday,Benzinga reports. Royal Bank of Canada currently has a $215.00 price target on the business services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group decreased their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company raised their price target on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $207.57.

Cintas Stock Up 0.8 %

CTAS opened at $206.25 on Thursday. The company has a market capitalization of $83.23 billion, a PE ratio of 49.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The firm has a 50-day simple moving average of $200.91 and a two-hundred day simple moving average of $208.87. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas has a 52 week low of $162.16 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.84 earnings per share. Analysts forecast that Cintas will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio is presently 36.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its position in shares of Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC grew its holdings in Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after acquiring an additional 6,341 shares in the last quarter. Wellington Management Group LLP increased its position in Cintas by 211.7% during the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its position in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares during the period. Institutional investors own 63.46% of the company’s stock.

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.