Cintas (NASDAQ:CTAS) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Cintas (NASDAQ:CTAS) from a hold rating to a buy rating in a research report sent to investors on Monday.

CTAS has been the subject of a number of other research reports. Royal Bank of Canada upped their price objective on shares of Cintas from $525.00 to $645.00 and gave the company an outperform rating in a research note on Friday, December 22nd. Truist Financial upped their price objective on shares of Cintas from $645.00 to $660.00 and gave the company a buy rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. increased their target price on shares of Cintas from $540.00 to $640.00 and gave the stock an overweight rating in a research report on Friday, December 22nd. Barclays increased their target price on shares of Cintas from $630.00 to $700.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Cintas from a buy rating to a hold rating and increased their target price for the stock from $551.00 to $590.00 in a research report on Friday, December 8th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cintas has an average rating of Moderate Buy and an average target price of $571.29.

Cintas Price Performance

NASDAQ:CTAS opened at $685.64 on Monday. The firm has a market cap of $69.50 billion, a price-to-earnings ratio of 49.76, a price-to-earnings-growth ratio of 3.68 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. The company’s 50-day moving average is $619.05 and its two-hundred day moving average is $566.70. Cintas has a 12-month low of $436.54 and a 12-month high of $704.84.

Cintas (NASDAQ:CTAS) last released 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. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.14 EPS. Research analysts expect that Cintas will post 14.57 EPS for the current year.

Cintas Dividend Announcement

The firm also recently announced 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. This represents a $5.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Wednesday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 39.19%.

Hedge Funds Weigh In On Cintas

Institutional investors and hedge funds have recently made changes to their positions in the business. Janiczek Wealth Management LLC lifted its stake in Cintas by 113.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after purchasing an additional 26 shares during the last quarter. Quarry LP lifted its stake in Cintas by 221.1% during the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after purchasing an additional 42 shares during the last quarter. DSM Capital Partners LLC bought a new position in Cintas during the fourth quarter worth $40,000. EverSource Wealth Advisors LLC lifted its stake in Cintas by 41.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 68 shares of the business services provider’s stock worth $41,000 after purchasing an additional 20 shares during the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in Cintas in the fourth quarter valued at $44,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Company Profile

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.