Cintas (NASDAQ:CTAS) PT Raised to $750.00

Cintas (NASDAQ:CTAS) had its price target boosted by research analysts at Robert W. Baird from $660.00 to $750.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price target would suggest a potential upside of 9.39% from the company’s previous close.

Several other brokerages have also weighed in on CTAS. Stifel Nicolaus increased 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. Truist Financial lifted their price objective on shares of Cintas from $645.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Bank of America lifted their price objective on shares of Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Cintas has a consensus rating of “Moderate Buy” and a consensus target price of $613.20.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $685.64 on Thursday. The stock 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 has a 52 week low of $436.54 and a 52 week high of $704.84. The company’s 50-day moving average price is $619.05 and its 200 day moving average price is $566.70. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62.

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 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 company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the company earned $3.14 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, research analysts forecast that Cintas will post 14.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cintas

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after buying an additional 112,361 shares during the last quarter. State Street Corp raised its position in Cintas by 0.4% in the second quarter. State Street Corp now owns 3,782,333 shares of the business services provider’s stock worth $1,880,122,000 after acquiring an additional 14,694 shares in the last quarter. FMR LLC raised its position in Cintas by 5.5% in the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after acquiring an additional 123,468 shares in the last quarter. Geode Capital Management LLC increased its stake in Cintas by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 1,871,093 shares of the business services provider’s stock worth $863,795,000 after purchasing an additional 41,237 shares in the last quarter. Finally, Norges Bank purchased a new position in Cintas in the 4th quarter worth about $872,895,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.