Cintas (NASDAQ:CTAS – Free Report) had its target price reduced by Barclays from $850.00 to $210.00 in a report published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.
Other equities research analysts also recently issued research reports about the company. Citigroup downgraded Cintas from a neutral rating to a sell rating and boosted their price objective for the company from $132.50 to $142.50 in a report on Friday, May 24th. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They set a neutral rating and a $167.50 target price on the stock. Royal Bank of Canada cut Cintas from an outperform rating to a sector perform rating and set a $181.25 target price on the stock. in a research report on Monday, July 15th. Stifel Nicolaus lifted their target price on Cintas from $166.75 to $199.50 and gave the company a hold rating in a research report on Friday, July 19th. Finally, Robert W. Baird reaffirmed a neutral rating and set a $193.75 target price (up previously from $187.50) on shares of Cintas in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $185.41.
Get Our Latest Stock Report on CTAS
Cintas Stock Performance
Cintas (NASDAQ:CTAS – Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share. Equities research analysts forecast that Cintas will post 16.64 EPS for the current year.
Cintas declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
Cintas Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio is presently 43.09%.
Insider Activity
In other news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the transaction, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.10% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in CTAS. Vantage Financial Partners LLC bought a new stake in shares of Cintas during the 4th quarter valued at $1,029,000. Aveo Capital Partners LLC raised its stake in shares of Cintas by 4.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock valued at $689,000 after purchasing an additional 44 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Cintas by 16.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,966 shares of the business services provider’s stock valued at $1,788,000 after purchasing an additional 422 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of Cintas by 5.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,857 shares of the business services provider’s stock valued at $1,119,000 after purchasing an additional 97 shares during the period. Finally, Haverford Trust Co raised its stake in shares of Cintas by 8.8% during the 4th quarter. Haverford Trust Co now owns 657 shares of the business services provider’s stock valued at $396,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.
Cintas Company Profile
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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