Morgan Stanley Boosts Cintas (NASDAQ:CTAS) Price Target to $213.00

Cintas (NASDAQ:CTAS) had its target price lifted by Morgan Stanley from $195.00 to $213.00 in a research report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

CTAS has been the topic of several other reports. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research report on Thursday. Robert W. Baird boosted their price objective on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday. Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group lowered their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $207.57.

Cintas Price Performance

NASDAQ CTAS opened at $206.25 on Thursday. The business’s fifty day moving average is $200.91 and its 200 day moving average is $208.87. Cintas has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company has a market capitalization of $83.23 billion, a PE ratio of 49.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the company posted $3.84 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that Cintas will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Hedge Funds Weigh In On Cintas

Several hedge funds have recently added to or reduced their stakes in the company. MJP Associates Inc. ADV grew its stake in shares of Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after buying an additional 50 shares during the last quarter. Guardian Wealth Advisors LLC boosted its holdings in Cintas by 3.1% during the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after acquiring an additional 52 shares during the period. MGB Wealth Management LLC grew its position in Cintas by 0.7% in the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after acquiring an additional 52 shares during the last quarter. TIAA Trust National Association increased its stake in Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after purchasing an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC lifted its position in shares of Cintas by 4.6% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock worth $214,000 after purchasing an additional 52 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

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.