Analysts Set Cintas Co. (NASDAQ:CTAS) Target Price at $228.06

Cintas Co. (NASDAQ:CTAS) has been assigned an average recommendation of “Buy” from the thirteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $228.06.

Several equities research analysts have recently issued reports on the company. William Blair reiterated a “buy” rating on shares of Cintas in a report on Thursday, June 20th. Royal Bank of Canada boosted their target price on Cintas to $267.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Credit Suisse Group boosted their target price on Cintas from $160.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Nomura boosted their target price on Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Zacks Investment Research upgraded Cintas from a “hold” rating to a “buy” rating and set a $273.00 target price for the company in a report on Thursday, July 18th.

Shares of Cintas stock traded down $0.87 during trading on Friday, hitting $263.42. 239,018 shares of the stock traded hands, compared to its average volume of 672,079. The company has a market capitalization of $26.49 billion, a PE ratio of 34.66, a P/E/G ratio of 3.00 and a beta of 0.99. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 0.85. Cintas has a twelve month low of $155.98 and a twelve month high of $266.56. The business’s fifty day moving average is $248.43.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.13. The business had revenue of $1.79 billion during 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 firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 EPS. As a group, analysts forecast that Cintas will post 8.45 earnings per share for the current fiscal year.

In related news, VP Thomas E. Frooman sold 5,373 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,401,224.67. Following the completion of the sale, the vice president now directly owns 127,624 shares in the company, valued at approximately $33,283,062.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Lawrence Thompson sold 4,888 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,274,741.52. Following the completion of the sale, the insider now owns 69,053 shares of the company’s stock, valued at $18,008,331.87. The disclosure for this sale can be found here. 19.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its position in Cintas by 21.2% in the 1st quarter. FMR LLC now owns 2,722,998 shares of the business services provider’s stock worth $550,345,000 after buying an additional 475,757 shares during the period. American Century Companies Inc. increased its position in Cintas by 2.0% in the 1st quarter. American Century Companies Inc. now owns 1,196,294 shares of the business services provider’s stock worth $241,783,000 after buying an additional 23,786 shares during the period. Geode Capital Management LLC increased its position in Cintas by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 1,168,562 shares of the business services provider’s stock worth $195,972,000 after buying an additional 66,402 shares during the period. Northern Trust Corp increased its position in Cintas by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,029,149 shares of the business services provider’s stock worth $208,002,000 after buying an additional 4,236 shares during the period. Finally, OppenheimerFunds Inc. increased its position in Cintas by 336.6% in the 1st quarter. OppenheimerFunds Inc. now owns 653,407 shares of the business services provider’s stock worth $132,061,000 after buying an additional 503,747 shares during the period. 68.23% of the stock is currently owned by institutional investors.

Cintas Company Profile

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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