Cintas (NASDAQ:CTAS) Price Target Raised to $765.00

Cintas (NASDAQ:CTAS) had its target price lifted by investment analysts at The Goldman Sachs Group from $673.00 to $765.00 in a report issued on Thursday, Briefing.com reports. The brokerage currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 11.57% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Barclays lifted their price objective on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their price objective on shares of Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday, December 22nd. Finally, Truist Financial boosted their price target on shares of Cintas from $645.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Moderate Buy” and a consensus price target of $613.20.

Cintas Stock Up 8.2 %

Shares of NASDAQ:CTAS opened at $685.64 on Thursday. The firm has a fifty day moving average price of $619.05 and a two-hundred day moving average price of $566.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.24 and a quick ratio of 1.89. Cintas has a one year low of $436.54 and a one year high of $704.84. The company has a market cap of $69.50 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 3.67 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.58 by $0.26. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm earned $3.14 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that Cintas will post 14.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Cintas

A number of hedge funds have recently modified their holdings of CTAS. Raymond James Trust N.A. increased its position in shares of Cintas by 10.6% during the first quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock valued at $314,000 after buying an additional 71 shares during the period. Baird Financial Group Inc. increased its position in shares of Cintas by 16.8% during the first quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock valued at $7,505,000 after buying an additional 2,541 shares during the period. Covestor Ltd increased its position in shares of Cintas by 84.7% during the first quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock valued at $139,000 after buying an additional 150 shares during the period. Mackenzie Financial Corp increased its position in shares of Cintas by 9.3% during the first quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock valued at $3,009,000 after buying an additional 604 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Cintas by 19.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock valued at $10,410,000 after buying an additional 4,037 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other 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, as well as sells uniforms.