Robert W. Baird Reiterates “Buy” Rating for Cintas (NASDAQ:CTAS)

Cintas (NASDAQ:CTAS)‘s stock had its “buy” rating reissued by equities research analysts at Robert W. Baird in a research report issued on Wednesday, AnalystRatings.com reports.

Several other analysts have also commented on the stock. The Goldman Sachs Group increased their target price on shares of Cintas from $387.00 to $411.00 and gave the company a “buy” rating in a research note on Tuesday, June 22nd. Credit Suisse Group increased their target price on shares of Cintas from $350.00 to $375.00 and gave the company a “neutral” rating in a research note on Friday, July 16th. Royal Bank of Canada assumed coverage on shares of Cintas in a research note on Thursday, September 2nd. They set an “outperform” rating and a $450.00 target price for the company. Barclays increased their target price on shares of Cintas from $405.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, July 16th. Finally, Morgan Stanley boosted their price target on shares of Cintas from $333.00 to $353.00 and gave the company an “equal weight” rating in a report on Friday, July 16th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $400.44.

Shares of NASDAQ:CTAS opened at $396.11 on Wednesday. The company has a 50 day moving average of $391.26 and a 200-day moving average of $366.20. The firm has a market cap of $40.79 billion, a P/E ratio of 38.68, a P/E/G ratio of 3.95 and a beta of 1.50. Cintas has a twelve month low of $307.65 and a twelve month high of $409.80. The company has a current ratio of 1.47, a quick ratio of 1.22 and a debt-to-equity ratio of 0.45.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 14th. The business services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.30 by $0.17. Cintas had a net margin of 15.61% and a return on equity of 30.22%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business earned $1.35 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts forecast that Cintas will post 10.69 EPS for the current year.

In other Cintas news, SVP Thomas E. Frooman sold 16,904 shares of the stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $392.46, for a total value of $6,634,143.84. Following the completion of the sale, the senior vice president now directly owns 96,357 shares of the company’s stock, valued at approximately $37,816,268.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CTAS. Financial Counselors Inc. increased its position in shares of Cintas by 2.3% during the 2nd quarter. Financial Counselors Inc. now owns 22,650 shares of the business services provider’s stock worth $8,652,000 after purchasing an additional 499 shares in the last quarter. Stephens Inc. AR increased its position in shares of Cintas by 34.7% during the 1st quarter. Stephens Inc. AR now owns 4,340 shares of the business services provider’s stock worth $1,481,000 after purchasing an additional 1,119 shares in the last quarter. Atria Investments LLC increased its position in shares of Cintas by 13.0% during the 2nd quarter. Atria Investments LLC now owns 14,943 shares of the business services provider’s stock worth $5,708,000 after purchasing an additional 1,724 shares in the last quarter. Paradigm Financial Partners LLC increased its position in shares of Cintas by 12.2% during the 1st quarter. Paradigm Financial Partners LLC now owns 7,198 shares of the business services provider’s stock worth $2,457,000 after purchasing an additional 785 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Cintas by 41.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 827 shares of the business services provider’s stock valued at $316,000 after acquiring an additional 242 shares in the last quarter. Institutional investors own 63.62% of the company’s stock.

Cintas Company Profile

Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.

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Analyst Recommendations for Cintas (NASDAQ:CTAS)

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