Robert W. Baird Issues Pessimistic Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price target cut by equities researchers at Robert W. Baird from $209.00 to $200.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s target price suggests a potential upside of 6.99% from the company’s previous close.

CTAS has been the subject of a number of other reports. Jefferies Financial Group lowered their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Barclays raised their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. The Goldman Sachs Group upped their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Finally, Truist Financial upped their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $195.90.

Cintas Stock Up 2.3 %

Shares of NASDAQ:CTAS opened at $186.94 on Friday. The company has a 50 day moving average price of $214.31 and a two-hundred day moving average price of $203.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a market capitalization of $75.39 billion, a PE ratio of 47.21, a PEG ratio of 4.15 and a beta of 1.33. Cintas has a 52 week low of $142.18 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the business posted $3.61 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Cintas will post 4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State Street Corp grew its holdings 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 period. FMR LLC lifted its position in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas by 309.7% during 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 acquiring an additional 6,235,052 shares during the period. Franklin Resources Inc. increased its holdings in shares of 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 acquiring an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cintas by 308.2% in 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 valued at $519,419,000 after acquiring an additional 1,904,926 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.