Cintas (NASDAQ:CTAS) Given New $196.00 Price Target at Wells Fargo & Company

Cintas (NASDAQ:CTAS) had its target price boosted by Wells Fargo & Company from $184.00 to $196.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the business services provider’s stock.

A number of other research analysts have also recently issued reports on CTAS. Robert W. Baird dropped their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group lowered their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley lifted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Finally, Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $207.57.

Cintas Stock Up 0.8 %

CTAS stock opened at $206.25 on Thursday. Cintas has a one year low of $162.16 and a one year 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 fifty day moving average of $200.91 and a 200-day moving average of $208.87. The stock 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 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 for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the company earned $3.84 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts expect that Cintas will post 4.31 EPS for the current year.

Cintas Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in shares of Cintas in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new stake in Cintas during the 4th quarter worth approximately $29,000. Endeavor Private Wealth Inc. purchased a new position in Cintas in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC raised its holdings in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after buying an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Cintas during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.