Cintas (NASDAQ:CTAS) Price Target Raised to $240.00

Cintas (NASDAQ:CTAS) had its target price increased by analysts at UBS Group from $219.00 to $240.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective would indicate a potential upside of 14.31% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada increased their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday. Stifel Nicolaus raised their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Barclays lowered their target price on Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $193.91.

Cintas Stock Up 1.3 %

NASDAQ:CTAS traded up $2.75 during trading hours on Thursday, hitting $209.96. The stock had a trading volume of 322,165 shares, compared to its average volume of 1,478,353. The company has a market cap of $21.30 billion, a PE ratio of 14.50, 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. The business has a 50 day simple moving average of $208.28 and a two-hundred day simple moving average of $183.50. Cintas has a 1-year low of $118.68 and a 1-year high of $210.99.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The company 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 business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.70 EPS. Analysts predict that Cintas will post 4.16 EPS for the current year.

Cintas announced that its Board of Directors has approved a share buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management 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 dated Wednesday, July 24th. The stock was 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 approximately $24,083,425.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Institutional Investors Weigh In On Cintas

Several institutional investors have recently made changes to their positions in CTAS. LGT Financial Advisors LLC lifted its holdings in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas during the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas during the 1st quarter valued at about $29,000. Rise Advisors LLC acquired a new stake in shares of Cintas during the 1st quarter valued at about $30,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after buying an additional 34 shares during the last quarter. 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.