Cintas (NASDAQ:CTAS) Given New $790.00 Price Target at UBS Group

Cintas (NASDAQ:CTAS) had its price objective upped by UBS Group from $680.00 to $790.00 in a research report report published on Thursday, MarketBeat.com reports. They currently have a buy rating on the business services provider’s stock.

CTAS has been the subject of a number of other research reports. The Goldman Sachs Group raised their price target on shares of Cintas from $673.00 to $765.00 and gave the company a buy rating in a report on Thursday. Truist Financial raised their price target on shares of Cintas from $645.00 to $660.00 and gave the company a buy rating in a report on Thursday, January 25th. Barclays raised their price target on shares of Cintas from $630.00 to $700.00 and gave the company an overweight rating in a report on Thursday, February 29th. StockNews.com raised shares of Cintas from a hold rating to a buy rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Cintas from $629.00 to $726.00 and gave the company a hold rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas has an average rating of Moderate Buy and an average target price of $649.60.

Cintas Stock Performance

NASDAQ CTAS opened at $687.03 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.62. The stock has a market cap of $69.64 billion, a P/E ratio of 49.86, a PEG ratio of 3.67 and a beta of 1.27. Cintas has a twelve month low of $438.59 and a twelve month high of $704.84. The company’s 50-day simple moving average is $620.99 and its 200 day simple moving average is $567.53.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.14 earnings per share. As a group, research analysts forecast that Cintas will post 14.57 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors 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 payout ratio is 39.19%.

Institutional Investors Weigh In On Cintas

A number of hedge funds and other institutional investors have recently made changes to their positions in CTAS. Vanguard Group Inc. increased its stake in Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after buying an additional 112,361 shares during the last quarter. State Street Corp increased its stake in Cintas by 0.4% in the 2nd quarter. State Street Corp now owns 3,782,333 shares of the business services provider’s stock valued at $1,880,122,000 after buying an additional 14,694 shares during the last quarter. FMR LLC increased its stake in Cintas by 5.5% in the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after buying an additional 123,468 shares during the last quarter. Geode Capital Management LLC increased its stake in Cintas by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 1,871,093 shares of the business services provider’s stock valued at $863,795,000 after buying an additional 41,237 shares during the last quarter. Finally, Norges Bank acquired a new stake in Cintas in the 4th quarter valued at $872,895,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

About Cintas

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.