Cintas (NASDAQ:CTAS) PT Raised to $236.00 at The Goldman Sachs Group

Cintas (NASDAQ:CTAS) had its price target lifted by research analysts at The Goldman Sachs Group from $212.00 to $236.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 16.63% from the stock’s current price.

A number of other research firms also recently commented on CTAS. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday. Barclays cut their price target on Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Truist Financial boosted their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Down 2.3 %

Cintas stock opened at $202.35 on Thursday. The stock’s 50 day moving average price is $208.63 and its 200 day moving average price is $183.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The company has a market cap of $20.53 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas has a 1-year low of $119.69 and a 1-year high of $211.57.

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

Cintas announced that its Board of Directors has approved a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cintas

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC increased its stake in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the second quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas in the first quarter worth about $29,000. Rise Advisors LLC purchased a new stake in shares of Cintas in the first quarter worth about $30,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after buying an additional 34 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Company Profile

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.