Cintas (NASDAQ:CTAS) PT Raised to $226.00

Cintas (NASDAQ:CTAS) had its price target raised by Morgan Stanley from $207.00 to $226.00 in a research report released on Thursday morning, Benzinga reports. They currently have an underweight rating on the business services provider’s stock.

A number of other research firms have also commented on CTAS. BidaskClub raised shares of Cintas from a buy rating to a strong-buy rating in a research report on Wednesday, August 12th. Bank of America cut shares of Cintas from a buy rating to a neutral rating and set a $255.00 target price on the stock. in a report on Wednesday, May 27th. They noted that the move was a valuation call. Stifel Nicolaus raised their price target on Cintas from $249.00 to $288.00 and gave the stock a hold rating in a research report on Friday, July 24th. Royal Bank of Canada upped their price objective on shares of Cintas from $347.00 to $360.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Oppenheimer reiterated a hold rating on shares of Cintas in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $272.11.

Shares of NASDAQ CTAS opened at $327.17 on Thursday. The firm has a market cap of $34.53 billion, a P/E ratio of 40.39, a price-to-earnings-growth ratio of 4.09 and a beta of 1.50. The business’s 50 day moving average is $322.61 and its 200-day moving average is $260.76. The company has a current ratio of 2.61, a quick ratio of 2.15 and a debt-to-equity ratio of 0.79. Cintas has a 1-year low of $154.33 and a 1-year high of $344.97.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.65. Cintas had a return on equity of 27.57% and a net margin of 12.36%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the firm posted $2.32 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts forecast that Cintas will post 8.22 EPS for the current year.

In other Cintas news, CAO Michael Lawrence Thompson sold 17,650 shares of Cintas 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 transaction, the chief accounting officer now directly owns 42,650 shares of the company’s stock, valued at approximately $13,618,571.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 3,923 shares of the company’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. 15.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of CTAS. Atria Investments LLC bought a new stake in Cintas in the second quarter valued at approximately $2,030,000. Principal Financial Group Inc. grew its holdings in Cintas by 5.8% during the 2nd quarter. Principal Financial Group Inc. now owns 131,737 shares of the business services provider’s stock worth $35,090,000 after acquiring an additional 7,276 shares during the period. Reliant Investment Management LLC raised its position in shares of Cintas by 5.2% in the 2nd quarter. Reliant Investment Management LLC now owns 16,280 shares of the business services provider’s stock worth $4,336,000 after acquiring an additional 810 shares in the last quarter. WFA of San Diego LLC acquired a new position in shares of Cintas in the 2nd quarter valued at about $526,000. Finally, AdvisorNet Financial Inc boosted its position in shares of Cintas by 175.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 911 shares of the business services provider’s stock valued at $243,000 after purchasing an additional 580 shares in the last quarter. Institutional investors own 64.67% of the company’s stock.

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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