The Goldman Sachs Group Forecasts Strong Price Appreciation for Cintas (NASDAQ:CTAS) Stock

Cintas (NASDAQ:CTAS) had its target price hoisted by research analysts at The Goldman Sachs Group from $211.00 to $233.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 14.65% from the company’s previous close.

Other analysts have also issued research reports about the company. Robert W. Baird upped their target price on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group boosted their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial increased their target price on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Morgan Stanley raised their price objective on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $210.58.

Cintas Trading Down 1.5 %

Shares of Cintas stock opened at $203.22 on Thursday. The company’s 50-day moving average price is $201.01 and its 200-day moving average price is $208.88. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas has a 12-month low of $162.16 and a 12-month high of $228.12. The company has a market cap of $82.01 billion, a price-to-earnings ratio of 49.00, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.84 EPS. On average, equities analysts expect that Cintas will post 4.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently modified their holdings of CTAS. China Universal Asset Management Co. Ltd. raised its stake in 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 in the last quarter. KMG Fiduciary Partners LLC increased its holdings in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares during the period. Wellington Management Group LLP raised its position in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after acquiring an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 during the last quarter. Finally, Annex Advisory Services LLC boosted its position in Cintas by 1.6% during the fourth 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 in the last quarter. 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.