Cintas (NASDAQ:CTAS) Price Target Raised to $323.00

Cintas (NASDAQ:CTAS) had its price target upped by Stifel Nicolaus from $288.00 to $323.00 in a research note issued to investors on Thursday, The Fly reports.

CTAS has been the subject of a number of other research reports. Royal Bank of Canada lifted their price objective on Cintas from $347.00 to $360.00 and gave the company an outperform rating in a research note on Thursday. Oppenheimer reiterated a hold rating on shares of Cintas in a research note on Wednesday, September 23rd. Jefferies Financial Group lifted their target price on Cintas from $352.00 to $365.00 and gave the stock a buy rating in a report on Thursday. Bank of America lowered Cintas from a buy rating to a neutral rating and set a $255.00 target price for the company. in a report on Wednesday, May 27th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their target price on Cintas from $207.00 to $226.00 and gave the stock an underweight rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $272.11.

CTAS opened at $327.17 on Thursday. The stock has a market cap of $34.53 billion, a PE ratio of 40.39, a PEG ratio of 4.09 and a beta of 1.50. The company has a quick ratio of 2.15, a current ratio of 2.61 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average of $322.61 and a 200-day moving average of $260.76. Cintas has a 52 week low of $154.33 and a 52 week high of $344.97.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $2.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.65. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Cintas had a return on equity of 27.57% and a net margin of 12.36%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 earnings per share. Equities analysts anticipate that Cintas will post 8.22 EPS for the current year.

In other Cintas news, CAO Michael Lawrence Thompson sold 17,650 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $319.31, for a total transaction of $5,635,821.50. Following the completion of the sale, the chief accounting officer now owns 42,650 shares of the company’s stock, valued at $13,618,571.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 3,923 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $320.18, for a total value of $1,256,066.14. Insiders own 15.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CTAS. Public Employees Retirement Association of Colorado raised its stake in Cintas by 1.7% during the first quarter. Public Employees Retirement Association of Colorado now owns 16,660 shares of the business services provider’s stock worth $2,886,000 after purchasing an additional 272 shares during the period. AGF Investments Inc. purchased a new position in Cintas during the first quarter worth approximately $175,000. Northwestern Mutual Wealth Management Co. raised its stake in Cintas by 90.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,353 shares of the business services provider’s stock worth $234,000 after purchasing an additional 642 shares during the period. Mutual of America Capital Management LLC raised its stake in Cintas by 0.5% during the first quarter. Mutual of America Capital Management LLC now owns 11,474 shares of the business services provider’s stock worth $1,988,000 after purchasing an additional 60 shares during the period. Finally, Martingale Asset Management L P raised its stake in Cintas by 50.1% during the first quarter. Martingale Asset Management L P now owns 6,009 shares of the business services provider’s stock worth $1,041,000 after purchasing an additional 2,005 shares during the period. 64.67% of the stock is owned by institutional investors and hedge funds.

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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