Morgan Stanley Issues Positive Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price objective boosted by Morgan Stanley from $195.00 to $213.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

CTAS has been the subject of several other research reports. The Goldman Sachs Group decreased their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company increased their price objective on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Thursday. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Finally, Robert W. Baird boosted 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $207.57.

Cintas Price Performance

CTAS opened at $206.25 on Thursday. The stock’s 50 day moving average price is $200.91 and its 200-day moving average price is $208.87. Cintas has a 52-week low of $162.16 and a 52-week high of $228.12. 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. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the business earned $3.84 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts predict that Cintas will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio is currently 36.11%.

Institutional Trading of Cintas

Large investors have recently made changes to their positions in the stock. MJP Associates Inc. ADV grew its position 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 purchasing an additional 50 shares during the period. Guardian Wealth Advisors LLC grew its holdings in shares of Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after acquiring an additional 52 shares during the period. MGB Wealth Management LLC increased its position in Cintas by 0.7% during the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after acquiring an additional 52 shares during the last quarter. TIAA Trust National Association lifted its holdings in Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after acquiring an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC grew its stake in shares of Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 52 shares during the period. 63.46% of the stock is currently owned by institutional investors.

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.