Royal Bank of Canada Reaffirms “Sector Perform” Rating for Cintas (NASDAQ:CTAS)

Cintas (NASDAQ:CTAS)‘s stock had its “sector perform” rating restated by analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They currently have a $215.00 price target on the business services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 5.80% from the company’s current price.

A number of other brokerages have also recently weighed in on CTAS. UBS Group cut their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Robert W. Baird raised their target price on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday. Truist Financial cut their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Wells Fargo & Company upped their price target on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $210.58.

Cintas Trading Down 1.5 %

NASDAQ:CTAS opened at $203.22 on Thursday. Cintas has a 12-month low of $162.16 and a 12-month high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The business has a 50 day simple moving average of $201.01 and a 200 day simple moving average of $208.88. The firm has a market capitalization of $82.01 billion, a P/E ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41.

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

Institutional Trading of Cintas

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after buying an additional 6,235,052 shares in the last quarter. Norges Bank bought a new position in shares of Cintas in the fourth quarter valued at about $877,216,000. Franklin Resources Inc. lifted its position in Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after acquiring an additional 1,904,926 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

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.