Cintas Co. (NASDAQ:CTAS) has been assigned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $398.88.
CTAS has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Cintas from $387.00 to $411.00 and gave the stock a “buy” rating in a report on Tuesday, June 22nd. Morgan Stanley dropped their price target on Cintas from $368.00 to $365.00 and set an “equal weight” rating for the company in a research report on Thursday, September 30th. Argus boosted their price objective on shares of Cintas from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, July 20th. Barclays increased their price objective on shares of Cintas from $405.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, July 16th. Finally, Royal Bank of Canada assumed coverage on shares of Cintas in a research report on Thursday, September 2nd. They set an “outperform” rating and a $450.00 target price for the company.
CTAS opened at $405.33 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.47 and a quick ratio of 1.22. Cintas has a 12 month low of $311.69 and a 12 month high of $409.80. The stock has a market capitalization of $41.91 billion, a P/E ratio of 39.58, a P/E/G ratio of 3.95 and a beta of 1.50. The business has a 50 day simple moving average of $394.54 and a 200-day simple moving average of $373.82.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Friday, August 13th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This is a boost from Cintas’s previous quarterly dividend of $0.75. This represents a $3.80 annualized dividend and a dividend yield of 0.94%. Cintas’s dividend payout ratio (DPR) is currently 37.11%.
In other Cintas news, Director Melanie W. Barstad sold 3,011 shares of the company’s stock in a transaction dated Thursday, October 7th. The stock was sold at an average price of $398.56, for a total transaction of $1,200,064.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael Lawrence Thompson sold 20,227 shares of the business’s stock in a transaction dated Wednesday, October 6th. The stock was sold at an average price of $389.14, for a total value of $7,871,134.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,142 shares of company stock valued at $15,705,343. 15.80% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Winslow Capital Management LLC boosted its stake in Cintas by 272.3% during the 1st quarter. Winslow Capital Management LLC now owns 825,378 shares of the business services provider’s stock valued at $281,710,000 after purchasing an additional 603,659 shares during the period. Amundi bought a new position in Cintas in the 2nd quarter worth approximately $102,399,000. The Manufacturers Life Insurance Company grew its stake in shares of Cintas by 22.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,285,801 shares of the business services provider’s stock worth $491,176,000 after purchasing an additional 237,260 shares in the last quarter. Amundi Asset Management US Inc. grew its position in Cintas by 119.3% in the 1st quarter. Amundi Asset Management US Inc. now owns 246,237 shares of the business services provider’s stock valued at $84,044,000 after buying an additional 133,943 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Cintas by 201.4% during the 1st quarter. Ameriprise Financial Inc. now owns 200,176 shares of the business services provider’s stock valued at $68,329,000 after buying an additional 133,760 shares during the period. 63.62% of the stock is currently owned by institutional investors and hedge funds.
Cintas Company Profile
Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.
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