Cintas (NASDAQ:CTAS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Cintas (NASDAQ:CTAS) had its target price hoisted by stock analysts at Morgan Stanley from $195.00 to $213.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target points to a potential upside of 4.81% from the company’s previous close.

Several other equities analysts have also recently commented on CTAS. UBS Group increased their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial increased their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group dropped their target price 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. Robert W. Baird increased their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $210.58.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $203.22 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas has a 1-year low of $162.16 and a 1-year high of $228.12. The company has a market capitalization of $82.01 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 3.98 and a beta of 1.41. The business has a 50-day moving average of $201.01 and a 200-day moving average of $208.88.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.84 EPS. On average, equities analysts anticipate that Cintas will post 4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cintas

A number of institutional investors have recently bought and sold shares of CTAS. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares during the period. KMG Fiduciary Partners LLC boosted its stake in Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the period. Wellington Management Group LLP grew its position in Cintas by 211.7% during the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after purchasing an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. grew its position in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC raised its stake in Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after purchasing an additional 1,988 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

About Cintas

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.