Analysts Set Cintas Corporation (NASDAQ:CTAS) Price Target at $215.81

Cintas Corporation (NASDAQ:CTAS) has been assigned an average rating of “Hold” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $219.58.

A number of brokerages have recently weighed in on CTAS. Morgan Stanley lifted their price objective on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Bank of America assumed coverage on Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target for the company. Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target on the stock. in a report on Thursday, May 1st. Truist Financial upped their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, The Goldman Sachs Group raised their target price on shares of Cintas from $233.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer directly owned 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cintas

Large investors have recently modified their holdings of the stock. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Cintas by 3.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider’s stock valued at $258,000 after buying an additional 47 shares during the last quarter. Oarsman Capital Inc. raised its stake in shares of Cintas by 3.9% in the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider’s stock worth $272,000 after purchasing an additional 49 shares during the last quarter. MJP Associates Inc. ADV increased its holdings in Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock worth $441,000 after buying an additional 50 shares in the last quarter. Truvestments Capital LLC raised its position in Cintas by 17.4% in the 1st quarter. Truvestments Capital LLC now owns 338 shares of the business services provider’s stock worth $69,000 after buying an additional 50 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider’s stock valued at $266,000 after acquiring an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 1.5%

Shares of CTAS opened at $218.83 on Friday. The stock has a market capitalization of $88.36 billion, a P/E ratio of 50.68, a PEG ratio of 3.36 and a beta of 1.05. Cintas has a twelve month low of $174.44 and a twelve month high of $229.24. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $219.80 and a two-hundred day simple moving average of $205.92.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, May 15th. Cintas’s payout ratio is currently 36.11%.

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.