Cintas (NASDAQ:CTAS) Price Target Lowered to $200.00 at Jefferies Financial Group

Cintas (NASDAQ:CTAS) had its price target reduced by equities researchers at Jefferies Financial Group from $730.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price target suggests a potential downside of 4.50% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus upped their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company upped their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $197.30.

Cintas Stock Up 1.1 %

CTAS stock traded up $2.22 on Thursday, hitting $209.43. 895,660 shares of the company’s stock were exchanged, compared to its average volume of 1,481,436. Cintas has a 12-month low of $118.68 and a 12-month high of $211.56. The firm has a 50 day moving average price of $208.28 and a two-hundred day moving average price of $183.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The stock has a market cap of $21.25 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The business 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%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.70 EPS. As a group, equities research analysts expect that Cintas will post 4.16 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding 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 an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Cintas

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its holdings in Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after buying an additional 14 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after acquiring an additional 14 shares during the last quarter. Field & Main Bank lifted its position in shares of Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 15 shares during the last quarter. Drive Wealth Management LLC boosted its stake in shares of Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association grew its holdings in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the last quarter. 63.46% of the stock is 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.