Truist Financial initiated coverage on shares of Cintas (NASDAQ:CTAS – Free Report) in a research report released on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $625.00 price objective on the business services provider’s stock.
A number of other analysts have also commented on the stock. The Goldman Sachs Group upgraded shares of Cintas from a buy rating to a conviction-buy rating in a research note on Monday, October 2nd. Robert W. Baird lifted their price target on shares of Cintas from $524.00 to $540.00 and gave the stock an outperform rating in a research note on Wednesday, September 27th. Citigroup dropped their price objective on shares of Cintas from $550.00 to $530.00 and set a neutral rating on the stock in a report on Wednesday, October 4th. StockNews.com raised shares of Cintas from a hold rating to a buy rating in a report on Wednesday, November 8th. Finally, Stifel Nicolaus raised their price objective on shares of Cintas from $521.00 to $526.00 and gave the stock a hold rating in a report on Wednesday, September 27th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cintas currently has a consensus rating of Moderate Buy and a consensus target price of $534.40.
Cintas Stock Performance
Cintas (NASDAQ:CTAS – Get Free Report) last announced its quarterly earnings results on Tuesday, September 26th. The business services provider reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.03. Cintas had a net margin of 15.36% and a return on equity of 36.82%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the business posted $3.39 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that Cintas will post 14.37 earnings per share for the current year.
Cintas Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, November 14th. Cintas’s dividend payout ratio (DPR) is presently 40.63%.
Insider Transactions at Cintas
In other news, Director Melanie W. Barstad sold 1,968 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $514.17, for a total value of $1,011,886.56. Following the transaction, the director now owns 6,250 shares of the company’s stock, valued at $3,213,562.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.10% of the company’s stock.
Hedge Funds Weigh In On Cintas
Several hedge funds have recently modified their holdings of the stock. Creative Planning lifted its holdings in shares of Cintas by 13.1% in the third quarter. Creative Planning now owns 12,821 shares of the business services provider’s stock worth $6,167,000 after buying an additional 1,482 shares in the last quarter. Revisor Wealth Management LLC bought a new stake in Cintas in the third quarter worth $345,000. RB Capital Management LLC increased its position in Cintas by 0.6% in the third quarter. RB Capital Management LLC now owns 4,367 shares of the business services provider’s stock worth $2,101,000 after purchasing an additional 28 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in Cintas by 22.9% in the third quarter. Moneta Group Investment Advisors LLC now owns 607 shares of the business services provider’s stock worth $292,000 after purchasing an additional 113 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in Cintas by 38.3% in the third quarter. Advisors Capital Management LLC now owns 791 shares of the business services provider’s stock worth $381,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 62.26% of the company’s stock.
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.
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