UBS Group Boosts Cintas (NASDAQ:CTAS) Price Target to $790.00

Cintas (NASDAQ:CTAS) had its target price increased by investment analysts at UBS Group from $680.00 to $790.00 in a note issued to investors on Thursday, StockNewsAPI reports. The firm currently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective indicates a potential upside of 14.76% from the company’s current price.

A number of other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a report on Thursday. The Goldman Sachs Group boosted their price target on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research note on Thursday. Truist Financial upped their price target on Cintas from $645.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Barclays upped their price target on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $641.93.

Cintas Trading Up 0.4 %

CTAS traded up $2.73 on Thursday, hitting $688.37. The company had a trading volume of 49,607 shares, compared to its average volume of 331,243. The company has a market cap of $69.78 billion, a PE ratio of 49.53, a PEG ratio of 3.67 and a beta of 1.27. Cintas has a 12-month low of $438.59 and a 12-month high of $704.84. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $619.05 and its 200 day simple moving average is $566.70.

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

Institutional Investors Weigh In On Cintas

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of 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 increased its stake in shares of Cintas by 0.4% during 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 during the period. FMR LLC grew its position in Cintas by 5.5% during the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after buying an additional 123,468 shares during the period. Geode Capital Management LLC grew its position in Cintas by 2.3% during the first quarter. Geode Capital Management LLC now owns 1,871,093 shares of the business services provider’s stock worth $863,795,000 after buying an additional 41,237 shares during the period. Finally, Norges Bank acquired a new position in Cintas during the fourth quarter worth about $872,895,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

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.