Citigroup Cuts Cintas (NASDAQ:CTAS) Price Target to $160.00

Cintas (NASDAQ:CTAS) had its target price lowered by Citigroup from $181.00 to $160.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a sell rating on the business services provider’s stock.

Several other equities research analysts have also weighed in on CTAS. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Wednesday, March 11th. Bank of America assumed coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. Wells Fargo & Company raised shares of Cintas from a “cautious” rating to an “overweight” rating and boosted their price target for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. Finally, Morgan Stanley dropped their price target on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $215.17.

Cintas Price Performance

Cintas stock opened at $174.34 on Tuesday. The business’s 50 day simple moving average is $191.08 and its 200 day simple moving average is $190.68. Cintas has a 12 month low of $165.60 and a 12 month high of $229.24. The company has a market cap of $69.72 billion, a price-to-earnings ratio of 49.25, a PEG ratio of 3.08 and a beta of 1.01. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business posted $1.13 earnings per share. Sell-side analysts forecast that Cintas will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were paid a $0.45 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Institutional Investors Weigh In On Cintas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nemes Rush Group LLC bought a new position in shares of Cintas in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new stake in Cintas during the 4th quarter worth approximately $25,000. Camelot Portfolios LLC purchased a new stake in Cintas in the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. purchased a new stake in Cintas in the 4th quarter worth approximately $26,000. Finally, Key Capital Management INC bought a new position in Cintas in the 4th quarter valued at $28,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.