Morgan Stanley Raises Cintas (NASDAQ:CTAS) Price Target to $202.00

Cintas (NASDAQ:CTAS) had its price objective upped by Morgan Stanley from $184.00 to $202.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. They currently have an underweight rating on the business services provider’s stock.

Several other equities analysts have also weighed in on CTAS. Credit Suisse Group set a GBX 3,090 ($40.38) price objective on Royal Dutch Shell and gave the company a buy rating in a research note on Wednesday. JPMorgan Chase & Co. set a $45.00 price objective on Ciena and gave the company a buy rating in a research note on Friday, March 22nd. Zacks Investment Research lowered G1 Therapeutics from a buy rating to a hold rating in a research note on Thursday, May 16th. BidaskClub lowered Xperi from a sell rating to a strong sell rating in a research note on Wednesday, June 19th. Finally, William Blair reaffirmed an outperform rating on shares of American Software in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $221.39.

NASDAQ CTAS opened at $257.85 on Wednesday. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 33.93, a P/E/G ratio of 3.00 and a beta of 0.99. Cintas has a 1-year low of $155.98 and a 1-year high of $263.82. The company has a quick ratio of 1.89, a current ratio of 1.98 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $236.31.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Tuesday, July 16th. The business services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.13. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. Cintas had a return on equity of 26.77% and a net margin of 12.80%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 EPS. On average, equities analysts expect that Cintas will post 8.45 earnings per share for the current fiscal year.

In related news, Director Joseph Scaminace sold 6,255 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the transaction, the director now directly owns 7,973 shares of the company’s stock, valued at approximately $1,771,600.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Capital Financial Planning LLC acquired a new position in Cintas during the 4th quarter worth approximately $29,000. Sonora Investment Management LLC acquired a new position in Cintas during the 2nd quarter worth approximately $42,000. Financial Gravity Wealth Inc. acquired a new position in Cintas during the 1st quarter worth approximately $36,000. CWM LLC lifted its position in Cintas by 52.4% during the 1st quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after acquiring an additional 66 shares in the last quarter. Finally, Washington Trust Bank acquired a new position in Cintas during the 1st quarter worth approximately $45,000. 67.05% of the stock is currently owned by hedge funds and other institutional investors.

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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