Wells Fargo & Company Issues Positive Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price objective upped by research analysts at Wells Fargo & Company from $184.00 to $196.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 4.25% from the company’s current price.

CTAS has been the topic of several other research reports. Robert W. Baird cut their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Citigroup started coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Finally, UBS Group lowered their target price on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $200.64.

Cintas Stock Up 5.8 %

NASDAQ CTAS opened at $204.71 on Thursday. The stock’s 50-day moving average price is $200.75 and its 200-day moving average price is $208.89. The company has a market capitalization of $82.61 billion, a P/E ratio of 49.36, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas has a 52 week low of $162.16 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $3.84 earnings per share. On average, equities research analysts predict that Cintas will post 4.31 earnings per share for the current year.

Hedge Funds Weigh In On Cintas

A number of institutional investors have recently bought and sold shares of the business. MJP Associates Inc. ADV raised its holdings in shares of Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock worth $441,000 after purchasing an additional 50 shares during the last quarter. Guardian Wealth Advisors LLC boosted its stake in shares of Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after buying an additional 52 shares during the last quarter. MGB Wealth Management LLC raised its position in Cintas by 0.7% during the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after acquiring an additional 52 shares in the last quarter. TIAA Trust National Association lifted its holdings in Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after acquiring an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC boosted its position in Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock worth $214,000 after purchasing an additional 52 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.