Truist Financial Boosts Cintas (NASDAQ:CTAS) Price Target to $775.00

Cintas (NASDAQ:CTASFree Report) had its price target boosted by Truist Financial from $660.00 to $775.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

CTAS has been the subject of several other reports. StockNews.com upgraded Cintas from a hold rating to a buy rating in a research note on Monday, March 25th. JPMorgan Chase & Co. raised their price target on Cintas from $540.00 to $640.00 and gave the stock an overweight rating in a research report on Friday, December 22nd. Barclays boosted their price target on Cintas from $630.00 to $700.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Bank of America increased their price objective on shares of Cintas from $700.00 to $790.00 and gave the stock a buy rating in a research note on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Cintas from $526.00 to $585.00 and gave the company a hold rating in a research report on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $649.60.

Get Our Latest Analysis on CTAS

Cintas Stock Performance

CTAS opened at $687.03 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 1.89. The business has a fifty day simple moving average of $624.64 and a 200 day simple moving average of $569.67. Cintas has a 1 year low of $438.59 and a 1 year high of $704.84. The company has a market capitalization of $69.64 billion, a PE ratio of 47.45, a price-to-earnings-growth ratio of 4.02 and a beta of 1.27.

Cintas (NASDAQ:CTASGet Free Report) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the business posted $3.14 earnings per share. Cintas’s quarterly revenue was up 9.9% on a year-over-year basis. Research analysts expect that Cintas will post 14.98 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were given 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 yield of 0.79%. Cintas’s dividend payout ratio is currently 37.29%.

Institutional Trading of Cintas

A number of hedge funds have recently made changes to their positions in CTAS. Kapitalo Investimentos Ltda bought a new position in Cintas in the 4th quarter valued at approximately $157,000. Newbridge Financial Services Group Inc. grew its holdings in Cintas by 81.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 320 shares of the business services provider’s stock worth $193,000 after acquiring an additional 144 shares during the last quarter. Nomura Holdings Inc. increased its position in Cintas by 26.4% in the 4th quarter. Nomura Holdings Inc. now owns 1,734 shares of the business services provider’s stock valued at $1,045,000 after acquiring an additional 362 shares during the period. HighPoint Advisor Group LLC bought a new position in shares of Cintas during the fourth quarter valued at $343,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Cintas during the fourth quarter worth $3,509,000. 63.46% of the stock is owned by institutional investors and hedge funds.

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.

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