Cintas (NASDAQ:CTAS) Price Target Raised to $725.00

Cintas (NASDAQ:CTAS) had its price target lifted by research analysts at Royal Bank of Canada from $675.00 to $725.00 in a research note issued to investors on Thursday, StockNewsAPI reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 5.32% from the company’s current price.

A number of other brokerages have also recently weighed in on CTAS. Barclays increased their price target on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday. Bank of America raised their target price on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Cintas from a “buy” rating to a “hold” rating and raised their target price for the stock from $551.00 to $590.00 in a research note on Friday, December 8th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Cintas has an average rating of “Moderate Buy” and a consensus target price of $641.93.

Cintas Stock Up 0.4 %

Shares of NASDAQ CTAS traded up $2.73 during mid-day trading on Thursday, reaching $688.37. The company had a trading volume of 49,607 shares, compared to its average volume of 331,243. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $619.05 and a two-hundred day simple moving average of $566.70. The stock has a market cap of $69.78 billion, a P/E ratio of 49.53, a PEG ratio of 3.67 and a beta of 1.27. Cintas has a 52-week low of $438.59 and a 52-week high of $704.84.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a net margin of 15.57% and a return on equity of 36.78%. Cintas’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.14 EPS. Sell-side analysts predict that Cintas will post 14.57 earnings per share for the current year.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently modified their holdings of CTAS. Columbus Macro LLC lifted its position in shares of Cintas by 1.2% during the fourth quarter. Columbus Macro LLC now owns 1,453 shares of the business services provider’s stock worth $871,000 after purchasing an additional 17 shares in the last quarter. Quent Capital LLC lifted its holdings in Cintas by 22.8% in the fourth quarter. Quent Capital LLC now owns 97 shares of the business services provider’s stock worth $59,000 after purchasing an additional 18 shares during the period. Greenleaf Trust lifted its holdings in Cintas by 1.0% in the 3rd quarter. Greenleaf Trust now owns 1,899 shares of the business services provider’s stock valued at $913,000 after acquiring an additional 19 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in Cintas by 33.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after buying an additional 19 shares during the period. Finally, RMB Capital Management LLC raised its holdings in Cintas by 2.9% during the 4th quarter. RMB Capital Management LLC now owns 680 shares of the business services provider’s stock worth $410,000 after buying an additional 19 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Company Profile

Cintas Corporation provides 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.