Cintas (NASDAQ:CTAS) Price Target Raised to $191.00

Cintas (NASDAQ:CTAS) had its price target upped by Wells Fargo & Company from $184.00 to $191.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 5.61% from the stock’s previous close.

Several other equities analysts have also issued reports on CTAS. UBS Group boosted their price objective on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday. Barclays cut their price objective on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Down 2.3 %

Shares of NASDAQ:CTAS opened at $202.35 on Thursday. The company has a 50 day moving average of $208.63 and a 200-day moving average of $183.66. Cintas has a one year low of $119.69 and a one year high of $211.57. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the company posted $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts forecast that Cintas will post 4.16 earnings per share for the current year.

Cintas declared that its Board of Directors has approved a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cintas

Several institutional investors have recently made changes to their positions in CTAS. Vanguard Group Inc. grew its stake in Cintas by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after buying an additional 112,361 shares in the last quarter. Legal & General Group Plc boosted its stake in Cintas by 0.4% in the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after buying an additional 3,471 shares in the last quarter. Nordea Investment Management AB lifted its stake in Cintas by 6.3% in the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after purchasing an additional 37,727 shares during the last quarter. Acadian Asset Management LLC grew its position in Cintas by 21.1% during the 2nd quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after acquiring an additional 67,440 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares during the last quarter. 63.46% of the stock is currently 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.