Brokerages Set Cintas Co. (NASDAQ:CTAS) Price Target at $198.46

Cintas Co. (NASDAQ:CTAS) has earned an average rating of “Hold” from the sixteen research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $199.79.

A number of equities analysts have recently weighed in on the company. UBS Group lowered their price target on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group reduced their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Finally, Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently modified their holdings of the company. State Street Corp boosted its position in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the last quarter. FMR LLC increased its stake in Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC lifted its position in Cintas by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock worth $1,544,822,000 after buying an additional 219,809 shares during the period. Invesco Ltd. boosted its stake in Cintas by 6.1% in the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after buying an additional 296,059 shares during the last quarter. Finally, Norges Bank purchased a new stake in Cintas in the 4th quarter valued at about $877,216,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 2.0 %

Shares of CTAS opened at $207.50 on Monday. Cintas has a 52-week low of $154.15 and a 52-week high of $228.12. The stock has a market cap of $83.74 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average is $197.13 and its two-hundred day moving average is $208.68.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $3.61 EPS. Research analysts forecast that Cintas will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is 37.59%.

About Cintas

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.