Cintas (NASDAQ:CTAS) Given Sector Perform Rating at Royal Bank of Canada

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

Other analysts have also recently issued reports about the company. UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Robert W. Baird reduced their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday. Jefferies Financial Group lowered their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Finally, Morgan Stanley lifted their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $195.90.

Cintas Price Performance

Shares of CTAS stock opened at $186.94 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock 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 52 week low of $142.18 and a 52 week high of $228.12. The stock’s fifty day moving average is $214.31 and its 200-day moving average is $202.98.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the company posted $3.61 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Cintas will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

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

Hedge Funds Weigh In On Cintas

A number of large investors have recently bought and sold shares of CTAS. LGT Financial Advisors LLC lifted its position 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 worth $26,000 after purchasing an additional 28 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after buying an additional 34 shares during the last quarter. Crewe Advisors LLC lifted its position in Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Cintas during the 2nd quarter worth about $51,000. Finally, Anfield Capital Management LLC bought a new position in shares of Cintas in the 2nd quarter valued at about $53,000. Institutional investors and hedge funds 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.