Truist Financial Boosts Cintas (NASDAQ:CTAS) Price Target to $775.00

Cintas (NASDAQ:CTAS) had its price target upped by research analysts at Truist Financial from $660.00 to $775.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price would suggest a potential upside of 12.88% from the company’s previous close.

CTAS has been the topic of a number of other reports. Barclays lifted their price objective on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, December 22nd. Stifel Nicolaus increased their price target on shares of Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. Royal Bank of Canada lifted their price objective on Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Bank of America raised their price target on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has an average rating of “Moderate Buy” and an average target price of $649.60.

Cintas Stock Performance

CTAS stock traded up $0.94 on Thursday, hitting $686.58. The company’s stock had a trading volume of 152,697 shares, compared to its average volume of 332,974. Cintas has a 1 year low of $438.59 and a 1 year high of $704.84. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62. The stock has a market cap of $69.60 billion, a price-to-earnings ratio of 49.84, a price-to-earnings-growth ratio of 3.67 and a beta of 1.27. The firm has a 50 day moving average of $619.05 and a two-hundred day moving average of $566.70.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $3.14 earnings per share. Equities analysts predict that Cintas will post 14.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Cintas during the fourth quarter worth approximately $872,895,000. Select Equity Group L.P. grew its stake in Cintas by 1,344.1% during the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after buying an additional 440,662 shares during the period. Goldman Sachs Group Inc. increased its holdings in Cintas by 52.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock valued at $422,825,000 after purchasing an additional 292,701 shares in the last quarter. Barclays PLC grew its stake in shares of Cintas by 121.8% in the fourth quarter. Barclays PLC now owns 519,000 shares of the business services provider’s stock valued at $312,780,000 after buying an additional 284,985 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Cintas by 475.7% during the fourth quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock valued at $180,423,000 after purchasing an additional 247,378 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

About Cintas

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.