Cintas (NASDAQ:CTAS) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Cintas (NASDAQ:CTAS) from a hold rating to a buy rating in a research report released on Monday.

CTAS has been the subject of a number of other reports. Barclays raised their price target on Cintas from $630.00 to $700.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Royal Bank of Canada lifted their target price on Cintas from $525.00 to $645.00 and gave the stock an outperform rating in a research note on Friday, December 22nd. Stifel Nicolaus lifted their price target on Cintas from $526.00 to $585.00 and gave the stock a hold rating in a report on Friday, December 22nd. JPMorgan Chase & Co. lifted their price target on Cintas from $540.00 to $640.00 and gave the stock an overweight rating in a report on Friday, December 22nd. Finally, Truist Financial lifted their price objective on Cintas from $645.00 to $660.00 and gave the company a buy rating in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $571.29.

Cintas Stock Up 8.2 %

NASDAQ:CTAS opened at $685.64 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 2.24. The stock has a 50-day simple moving average of $619.05 and a 200 day simple moving average of $566.70. The company has a market cap of $69.50 billion, a PE ratio of 49.76, a PEG ratio of 3.68 and a beta of 1.27. Cintas has a 52-week low of $436.54 and a 52-week high of $704.84.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $3.14 earnings per share. On average, sell-side analysts expect that Cintas will post 14.57 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were issued a dividend of $1.35 per share. The ex-dividend date was Wednesday, February 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.79%. Cintas’s dividend payout ratio (DPR) is currently 39.19%.

Hedge Funds Weigh In On Cintas

A number of institutional investors have recently modified their holdings of the business. Nomura Holdings Inc. raised its holdings in shares of Cintas by 26.4% during the 4th quarter. Nomura Holdings Inc. now owns 1,734 shares of the business services provider’s stock worth $1,045,000 after buying an additional 362 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in shares of Cintas during the 4th quarter worth $343,000. Quadrature Capital Ltd bought a new stake in Cintas during the 4th quarter worth $3,509,000. B. Riley Wealth Advisors Inc. grew its position in Cintas by 12.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after acquiring an additional 58 shares during the last quarter. Finally, Walden Wealth Partners LLC bought a new stake in Cintas during the 4th quarter worth $256,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Company Profile

Cintas Corporation provides 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.