Cintas (NASDAQ:CTAS) Price Target Raised to $790.00 at Bank of America

Cintas (NASDAQ:CTAS) had its price target hoisted by Bank of America from $700.00 to $790.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Bank of America‘s target price points to a potential upside of 15.22% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, December 22nd. Royal Bank of Canada lifted their price target on shares of Cintas from $525.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, December 22nd. The Goldman Sachs Group lifted their price target on shares of Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus lifted their target price on shares of Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research note on Friday, December 22nd. 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.com, the company has an average rating of “Moderate Buy” and an average price target of $613.20.

Cintas Stock Up 8.2 %

NASDAQ:CTAS opened at $685.64 on Thursday. Cintas has a fifty-two week low of $436.54 and a fifty-two week high of $704.84. The stock has a market capitalization of $69.50 billion, a P/E ratio of 49.76, a P/E/G ratio of 3.67 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 2.24. The company’s 50-day simple moving average is $619.05 and its 200-day simple moving average is $566.70.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.58 by $0.26. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm posted $3.14 EPS. Cintas’s revenue was up 9.9% on a year-over-year basis. On average, equities analysts anticipate that Cintas will post 14.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Comerica Bank purchased a new stake in Cintas in the 3rd quarter valued at about $10,866,000. Nordea Investment Management AB raised its holdings in Cintas by 16.6% in the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock valued at $360,637,000 after buying an additional 85,662 shares during the period. Zions Bancorporation N.A. raised its holdings in Cintas by 8.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 3,461 shares of the business services provider’s stock valued at $1,665,000 after buying an additional 273 shares during the period. Profund Advisors LLC raised its holdings in Cintas by 34.2% in the 3rd quarter. Profund Advisors LLC now owns 7,437 shares of the business services provider’s stock valued at $3,577,000 after buying an additional 1,897 shares during the period. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in Cintas by 22.6% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 407,500 shares of the business services provider’s stock valued at $245,584,000 after buying an additional 75,000 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

About Cintas

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.