Cintas (NASDAQ:CTAS) PT Raised to $191.00

Cintas (NASDAQ:CTAS) had its price target lifted by stock analysts at Wells Fargo & Company from $184.00 to $191.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 5.61% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Stifel Nicolaus lifted their price objective on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays cut their price target on Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, UBS Group boosted their price target on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

Shares of CTAS stock opened at $202.35 on Thursday. The company has a market cap of $20.53 billion, a P/E ratio of 13.97, a PEG ratio of 4.09 and a beta of 1.32. Cintas has a 52 week low of $119.69 and a 52 week high of $211.57. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $208.63 and a two-hundred day moving average of $183.66.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $3.70 earnings per share. Cintas’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that Cintas will post 4.16 EPS for the current year.

Cintas declared that its board has initiated a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the sale, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Cintas

Several large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC grew its holdings in Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after acquiring an additional 201,955 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Cintas by 711.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock valued at $91,915,000 after purchasing an additional 133,713 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Cintas in the first quarter valued at approximately $84,646,000. Vanguard Group Inc. raised its position in Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after purchasing an additional 112,361 shares during the last quarter. Finally, Congress Asset Management Co. MA raised its position in Cintas by 124.9% in the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock worth $134,318,000 after purchasing an additional 108,582 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

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.