Cintas (NASDAQ:CTAS - Free Report) had its price target lifted by The Goldman Sachs Group from $233.00 to $257.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a buy rating on the business services provider's stock.
CTAS has been the subject of a number of other research reports. UBS Group raised their target price on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $196.00 to $221.00 in a research report on Tuesday. Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Morgan Stanley increased their price objective on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $219.58.
Read Our Latest Research Report on Cintas
Cintas Stock Performance
Shares of NASDAQ:CTAS traded up $3.17 during midday trading on Wednesday, hitting $218.83. The stock had a trading volume of 942,340 shares, compared to its average volume of 1,669,363. Cintas has a 1 year low of $174.44 and a 1 year high of $229.24. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average price of $220.01 and a two-hundred day moving average price of $205.99. The company has a market capitalization of $88.36 billion, a PE ratio of 50.68, a P/E/G ratio of 3.42 and a beta of 1.05.
Cintas Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.
Insider Activity at Cintas
In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director owned 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated 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 directly owned 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Cintas
Large investors have recently modified their holdings of the stock. WPG Advisers LLC acquired a new stake in Cintas in the first quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Cintas in the fourth quarter valued at $29,000. Saudi Central Bank acquired a new stake in Cintas during the 1st quarter valued at $29,000. IAG Wealth Partners LLC increased its stake in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.
About Cintas
(
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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.
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