Cintas (NASDAQ:CTAS) PT Raised to $240.00

Cintas (NASDAQ:CTAS) had its price target upped by analysts at UBS Group from $219.00 to $240.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective points to a potential upside of 18.61% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company increased their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday. Stifel Nicolaus raised their price objective on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Redburn Atlantic started coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Finally, Royal Bank of Canada raised their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Price Performance

CTAS stock opened at $202.35 on Thursday. The stock has a 50-day moving average price of $208.63 and a two-hundred day moving average price of $183.66. The stock 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. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Cintas has a 1 year low of $119.69 and a 1 year high of $211.57.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 EPS. Equities analysts forecast that Cintas will post 4.16 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently bought and sold shares of CTAS. Vantage Financial Partners LLC acquired a new stake in Cintas during the fourth quarter worth approximately $1,029,000. Aveo Capital Partners LLC lifted its position in Cintas by 4.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after acquiring an additional 44 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Cintas by 8.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock worth $3,797,000 after acquiring an additional 502 shares during the last quarter. Advisory Services Network LLC lifted its position in Cintas by 11.6% during the fourth quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock worth $671,000 after acquiring an additional 116 shares during the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in Cintas during the fourth quarter worth approximately $1,471,000. 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.