Cintas (NASDAQ:CTAS) PT Raised to $225.00

Cintas (NASDAQ:CTAS) had its price target boosted by analysts at Truist Financial from $212.50 to $225.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Truist Financial’s price objective points to a potential upside of 11.73% from the company’s current price.

A number of other analysts have also recently commented on the company. Citigroup cut Cintas from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $132.50 to $142.50 in a research report on Friday, May 24th. Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Morgan Stanley boosted their price target on Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada cut Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price target on the stock. in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $186.30.

Cintas Stock Down 1.2 %

Cintas stock opened at $201.38 on Tuesday. Cintas has a 1-year low of $118.68 and a 1-year high of $209.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The stock has a market cap of $20.43 billion, a PE ratio of 13.91, a P/E/G ratio of 4.36 and a beta of 1.32. The stock’s fifty day moving average is $205.79 and its two-hundred day moving average is $181.82.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts expect that Cintas will post 16.64 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Cintas

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

Institutional Investors Weigh In On Cintas

Several institutional investors have recently modified their holdings of the company. Checchi Capital Advisers LLC boosted its stake in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after acquiring an additional 14 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares in the last quarter. Field & Main Bank boosted its stake in shares of Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after acquiring an additional 15 shares in the last quarter. Drive Wealth Management LLC boosted its stake in shares of Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association boosted its stake in shares of Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares in the last quarter. Hedge funds and other 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.