Cintas (CTAS) Lowered to Buy at BidaskClub

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BidaskClub lowered shares of Cintas (NASDAQ:CTAS) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Other research analysts have also issued reports about the company. Bank of America began coverage on Cintas in a research report on Tuesday, October 23rd. They set a neutral rating and a $200.00 target price for the company. Credit Suisse Group began coverage on Cintas in a research report on Friday, August 10th. They set a neutral rating and a $205.00 target price for the company. Royal Bank of Canada assumed coverage on Cintas in a research report on Monday, November 19th. They set an outperform rating and a $215.00 target price for the company. Zacks Investment Research downgraded Cintas from a buy rating to a hold rating in a report on Tuesday, November 27th. Finally, Barclays increased their price target on Cintas from $210.00 to $235.00 and gave the stock an overweight rating in a report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $202.17.

NASDAQ:CTAS traded down $2.60 during trading hours on Wednesday, hitting $176.89. 4,323 shares of the company were exchanged, compared to its average volume of 516,443. The firm has a market cap of $19.19 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.06 and a beta of 1.03. The company has a quick ratio of 2.65, a current ratio of 3.10 and a debt-to-equity ratio of 0.76. Cintas has a one year low of $147.38 and a one year high of $217.34.

Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, September 25th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.13. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.68 billion. Cintas had a return on equity of 24.13% and a net margin of 12.72%. Cintas’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $1.45 EPS. As a group, equities research analysts expect that Cintas will post 7.24 EPS for the current year.

The firm also recently declared an annual dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be issued a dividend of $2.05 per share. This is an increase from Cintas’s previous annual dividend of $1.62. This represents a yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 8th. Cintas’s dividend payout ratio (DPR) is presently 34.51%.

A number of institutional investors have recently modified their holdings of CTAS. Global X Management Co LLC grew its stake in shares of Cintas by 23.3% in the 2nd quarter. Global X Management Co LLC now owns 2,894 shares of the business services provider’s stock valued at $536,000 after buying an additional 546 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Cintas by 30.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 11,262 shares of the business services provider’s stock valued at $2,084,000 after buying an additional 2,626 shares during the period. Toronto Dominion Bank grew its stake in shares of Cintas by 19.7% in the 2nd quarter. Toronto Dominion Bank now owns 55,976 shares of the business services provider’s stock valued at $10,357,000 after buying an additional 9,199 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Cintas by 105.2% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,375 shares of the business services provider’s stock valued at $254,000 after buying an additional 705 shares during the period. Finally, Pensionfund Sabic acquired a new stake in shares of Cintas in the 3rd quarter valued at about $1,721,000. Hedge funds and other institutional investors own 66.37% of the company’s stock.

About Cintas

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Analyst Recommendations for Cintas (NASDAQ:CTAS)

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