Cintas (NASDAQ:CTAS) had its price objective boosted by equities research analysts at Morgan Stanley from $217.00 to $223.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “underweight” rating on the business services provider’s stock. Morgan Stanley’s price target would suggest a potential downside of 16.67% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Robert W. Baird boosted their price target on shares of Cintas from $267.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Credit Suisse Group boosted their price target on shares of Cintas from $195.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. William Blair restated a “buy” rating on shares of Cintas in a report on Thursday, June 20th. Royal Bank of Canada boosted their price target on shares of Cintas from $267.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Finally, Bank of America restated a “buy” rating and set a $287.00 price target (up from $261.00) on shares of Cintas in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $262.40.
Cintas stock opened at $267.61 on Thursday. Cintas has a fifty-two week low of $155.98 and a fifty-two week high of $271.78. The stock has a market cap of $27.63 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 2.96 and a beta of 1.00. The firm’s 50-day simple moving average is $259.40 and its 200 day simple moving average is $238.83. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.74 and a current ratio of 2.04.
Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, September 24th. The business services provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.17. Cintas had a net margin of 13.18% and a return on equity of 28.61%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts predict that Cintas will post 8.57 EPS for the current fiscal year.
In other news, insider Michael Lawrence Thompson sold 4,888 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total value of $1,274,741.52. Following the sale, the insider now owns 69,053 shares of the company’s stock, valued at $18,008,331.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas E. Frooman sold 5,373 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total transaction of $1,401,224.67. Following the completion of the sale, the vice president now directly owns 127,624 shares in the company, valued at approximately $33,283,062.96. The disclosure for this sale can be found here. Insiders own 15.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new stake in shares of Cintas in the second quarter valued at approximately $25,000. Coastal Investment Advisors Inc. bought a new stake in shares of Cintas in the second quarter valued at approximately $36,000. Sonora Investment Management LLC bought a new stake in shares of Cintas in the second quarter valued at approximately $42,000. Capital Investment Advisory Services LLC bought a new stake in shares of Cintas in the second quarter valued at approximately $52,000. Finally, Lenox Wealth Management Inc. raised its position in shares of Cintas by 20.5% in the second quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 40 shares during the period. 66.26% of the stock is currently owned by institutional investors.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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