Cintas (NASDAQ:CTAS) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Cintas (NASDAQ:CTAS - Free Report) in a research note issued to investors on Monday morning, Marketbeat.com reports. Royal Bank of Canada currently has a $240.00 price objective on the business services provider's stock, up from their previous price objective of $215.00.

Other research analysts have also recently issued reports about the company. Robert W. Baird boosted their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. The Goldman Sachs Group lifted their price objective on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Citigroup began coverage on Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 target price for the company. Wells Fargo & Company raised their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday, March 27th. Finally, Argus raised shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $215.81.

Cintas Price Performance

NASDAQ CTAS traded up $1.85 during mid-day trading on Monday, hitting $223.57. The stock had a trading volume of 1,466,910 shares, compared to its average volume of 1,702,938. The firm's 50 day moving average is $214.01 and its 200 day moving average is $205.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market capitalization of $90.27 billion, a price-to-earnings ratio of 53.90, a PEG ratio of 3.98 and a beta of 1.08. Cintas has a twelve month low of $170.93 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.84 earnings per share. Equities research analysts forecast that Cintas will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is 36.11%.

Insider Activity

In other news, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Institutional Trading of Cintas

A number of large investors have recently modified their holdings of CTAS. Strs Ohio purchased a new stake in Cintas during the 1st quarter worth about $24,872,000. Addison Capital Co acquired a new position in shares of Cintas during the first quarter worth about $276,000. Jacobi Capital Management LLC increased its stake in shares of Cintas by 34.8% during the first quarter. Jacobi Capital Management LLC now owns 3,010 shares of the business services provider's stock worth $619,000 after buying an additional 777 shares during the period. Advisors Capital Management LLC raised its holdings in Cintas by 1.6% in the first quarter. Advisors Capital Management LLC now owns 3,867 shares of the business services provider's stock valued at $795,000 after acquiring an additional 62 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Cintas by 9.8% in the first quarter. Geneos Wealth Management Inc. now owns 6,456 shares of the business services provider's stock worth $1,327,000 after acquiring an additional 576 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

About Cintas

Cintas Corporation engages in the provision of 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.