Cintas (NASDAQ:CTAS) Price Target Increased to $765.00 by Analysts at The Goldman Sachs Group

Cintas (NASDAQ:CTAS) had its price objective increased by The Goldman Sachs Group from $673.00 to $765.00 in a research note published on Thursday morning, Marketbeat Ratings reports. The Goldman Sachs Group currently has a buy rating on the business services provider’s stock.

Several other research firms have also commented on CTAS. StockNews.com raised Cintas from a hold rating to a buy rating in a report on Monday. Royal Bank of Canada increased their target price on Cintas from $525.00 to $645.00 and gave the company an outperform rating in a report on Friday, December 22nd. JPMorgan Chase & Co. raised their price objective on Cintas from $540.00 to $640.00 and gave the stock an overweight rating in a report on Friday, December 22nd. Truist Financial raised their price objective on Cintas from $645.00 to $660.00 and gave the stock a buy rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus raised their price objective on Cintas from $526.00 to $585.00 and gave the stock a hold rating in a report on Friday, December 22nd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $649.60.

Cintas Stock Up 0.2 %

Shares of NASDAQ CTAS opened at $687.03 on Thursday. 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. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62. Cintas has a 12-month low of $438.59 and a 12-month high of $704.84. The business’s fifty day simple moving average is $620.99 and its 200-day simple moving average is $567.53.

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

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were paid 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 39.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CTAS. Norges Bank purchased a new position in shares of Cintas during the 4th quarter worth approximately $872,895,000. Select Equity Group L.P. grew its stake in Cintas by 1,344.1% in the 4th quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after acquiring an additional 440,662 shares during the period. Goldman Sachs Group Inc. grew its stake in Cintas by 52.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock worth $422,825,000 after acquiring an additional 292,701 shares during the period. Barclays PLC grew its stake in Cintas by 121.8% in the 4th quarter. Barclays PLC now owns 519,000 shares of the business services provider’s stock worth $312,780,000 after acquiring an additional 284,985 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Cintas by 475.7% in the 4th quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock worth $180,423,000 after acquiring an additional 247,378 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

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.