Cintas Co. (NASDAQ:CTAS) Given Consensus Rating of “Moderate Buy” by Analysts

Posted by Defense World Staff on Aug 24th, 2023

Shares of Cintas Co. (NASDAQ:CTAS – Get Free Report) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $524.00.

A number of brokerages have weighed in on CTAS. StockNews.com began coverage on shares of Cintas in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Citigroup cut shares of Cintas from a “buy” rating to a “neutral” rating and lifted their price target for the company from $540.00 to $550.00 in a research report on Monday, July 24th. Barclays lifted their price target on shares of Cintas from $500.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, July 14th. UBS Group lifted their price target on shares of Cintas from $550.00 to $575.00 in a research report on Friday, July 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cintas from $510.00 to $540.00 in a research report on Friday, July 14th.

Read Our Latest Research Report on CTAS

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 2,686 shares of Cintas stock in a transaction on Friday, July 14th. The shares were sold at an average price of $496.25, for a total value of $1,332,927.50. Following the completion of the sale, the director now owns 30,066 shares in the company, valued at $14,920,252.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cintas news, Director Gerald S. Adolph sold 2,686 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $496.25, for a total transaction of $1,332,927.50. Following the completion of the sale, the director now owns 30,066 shares in the company, valued at $14,920,252.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael Lawrence Thompson sold 5,050 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $498.35, for a total transaction of $2,516,667.50. Following the sale, the chief accounting officer now owns 27,326 shares of the company’s stock, valued at approximately $13,617,912.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,820 shares of company stock worth $4,926,731. Insiders own 15.10% of the company’s stock.

Institutional Trading of Cintas

Several institutional investors have recently added to or reduced their stakes in CTAS. Raymond James Trust N.A. increased its stake in Cintas by 10.6% during the first quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 71 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Cintas by 16.8% during the first quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock valued at $7,505,000 after acquiring an additional 2,541 shares during the period. Covestor Ltd boosted its holdings in shares of Cintas by 84.7% during the first quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 150 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Cintas by 9.3% during the first quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock valued at $3,009,000 after acquiring an additional 604 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Cintas by 19.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock valued at $10,410,000 after acquiring an additional 4,037 shares during the period. Institutional investors own 62.04% of the company’s stock.

Cintas Price Performance

CTAS opened at $491.22 on Thursday. The company’s 50 day simple moving average is $493.90 and its 200 day simple moving average is $468.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.98 and a current ratio of 2.39. Cintas has a 1 year low of $370.93 and a 1 year high of $518.71. The stock has a market capitalization of $49.98 billion, a PE ratio of 37.84, a P/E/G ratio of 3.15 and a beta of 1.31.

Cintas (NASDAQ:CTAS – Get Free Report) last released its earnings results on Thursday, July 13th. The business services provider reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.14. Cintas had a net margin of 15.29% and a return on equity of 38.09%. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the company earned $2.81 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Cintas will post 14.18 EPS for the current year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $1.15. Cintas’s payout ratio is 41.60%.

Cintas Company Profile

(Get Free Report

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.