Cintas Corporation (CTAS) Given Average Rating of “Hold” by Brokerages
Cintas Corporation (NASDAQ:CTAS) has been given an average rating of “Hold” by the thirteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $143.00.
Several research firms have recently weighed in on CTAS. Instinet lowered Cintas Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $142.00 to $130.00 in a research note on Tuesday, June 27th. Nomura lowered Cintas Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised Cintas Corporation from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a research note on Monday, July 10th. Stifel Nicolaus raised their price objective on Cintas Corporation from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Finally, Deutsche Bank AG set a $130.00 price objective on Cintas Corporation and gave the stock a “hold” rating in a research note on Friday, July 21st.
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Cintas Corporation (NASDAQ:CTAS) last issued its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.18. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. Cintas Corporation had a return on equity of 23.71% and a net margin of 9.79%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. Equities analysts forecast that Cintas Corporation will post $5.36 earnings per share for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a dividend yield of 1.07%. This is a positive change from Cintas Corporation’s previous annual dividend of $1.33. Cintas Corporation’s dividend payout ratio is presently 26.18%.
In other news, CFO J. Michael Hansen sold 800 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $130.75, for a total value of $104,600.00. Following the completion of the sale, the chief financial officer now owns 54,370 shares in the company, valued at $7,108,877.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gerald S. Adolph sold 2,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total value of $267,380.00. Following the completion of the sale, the director now owns 13,135 shares of the company’s stock, valued at approximately $1,756,018.15. The disclosure for this sale can be found here. 18.90% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. APG Asset Management N.V. lifted its holdings in shares of Cintas Corporation by 4.6% in the third quarter. APG Asset Management N.V. now owns 146,614 shares of the business services provider’s stock valued at $21,153,000 after purchasing an additional 6,400 shares in the last quarter. Asset Advisors Corp lifted its holdings in shares of Cintas Corporation by 1.5% in the third quarter. Asset Advisors Corp now owns 39,940 shares of the business services provider’s stock valued at $5,763,000 after purchasing an additional 600 shares in the last quarter. Wendell David Associates Inc. purchased a new stake in shares of Cintas Corporation in the third quarter valued at $209,000. Assenagon Asset Management S.A. purchased a new stake in shares of Cintas Corporation in the third quarter valued at $11,296,000. Finally, Shell Asset Management Co. lifted its holdings in shares of Cintas Corporation by 150.8% in the third quarter. Shell Asset Management Co. now owns 146,648 shares of the business services provider’s stock valued at $10,352,000 after purchasing an additional 88,185 shares in the last quarter. Institutional investors own 65.79% of the company’s stock.
Cintas Corporation Company Profile
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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