Wells Fargo & Company Raises Cintas (NASDAQ:CTAS) Price Target to $196.00

Cintas (NASDAQ:CTAS) had its price objective raised by equities researchers at Wells Fargo & Company from $184.00 to $196.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 3.55% from the stock’s previous close.

A number of other research firms have also recently weighed in on CTAS. The Goldman Sachs Group lowered their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. UBS Group lowered 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Two 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $210.58.

Cintas Stock Performance

Shares of CTAS opened at $203.22 on Thursday. Cintas has a 1 year low of $162.16 and a 1 year high of $228.12. The stock 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. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company’s fifty day moving average is $201.01 and its two-hundred day moving average is $208.88.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State Street Corp lifted its stake in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the last quarter. Norges Bank acquired a new position in shares of Cintas in the 4th quarter valued at about $877,216,000. Franklin Resources Inc. boosted its holdings in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cintas by 308.2% during the third 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 valued at $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. Institutional investors and hedge funds 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.