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

Shares of Cintas Corporation (NASDAQ:CTAS) have received a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $219.58.

Several equities analysts have recently weighed in on CTAS shares. Robert W. Baird increased their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. UBS Group upped their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company upgraded shares of Cintas from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $196.00 to $221.00 in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $240.00 target price (up from $215.00) on shares of Cintas in a report on Monday, June 9th.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer 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 SEC, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director directly owned 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiduciary Financial Group LLC purchased a new position in shares of Cintas in the second quarter worth $202,000. HBW Advisory Services LLC bought a new stake in Cintas in the 2nd quarter valued at $276,000. Kera Capital Partners Inc. bought a new stake in Cintas in the 2nd quarter valued at $541,000. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Cintas in the 1st quarter worth $3,117,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Cintas by 516.8% during the 1st quarter. Voya Investment Management LLC now owns 854,032 shares of the business services provider’s stock valued at $175,529,000 after purchasing an additional 715,570 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $218.83 on Friday. The firm 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. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. Cintas has a one year low of $174.44 and a one year high of $229.24. The business has a fifty day moving average of $219.80 and a 200 day moving average of $205.92.

Cintas Dividend Announcement

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

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.