Cintas (NASDAQ:CTAS) Coverage Initiated at Citigroup

Investment analysts at Citigroup started coverage on shares of Cintas (NASDAQ:CTAS) in a research note issued on Monday, Marketbeat.com reports. The firm set a “sell” rating and a $161.00 price target on the business services provider’s stock. Citigroup’s target price suggests a potential downside of 21.78% from the company’s previous close.

A number of other brokerages have also commented on CTAS. Truist Financial decreased their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Robert W. Baird dropped their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. UBS Group lowered their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company reduced their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Stock Up 1.2 %

Cintas stock opened at $205.82 on Monday. Cintas has a fifty-two week low of $154.15 and a fifty-two week high of $228.12. The firm has a market capitalization of $83.06 billion, a PE ratio of 49.63, a P/E/G ratio of 3.98 and a beta of 1.38. The company’s 50-day moving average is $196.31 and its 200-day moving average is $208.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the firm posted $3.61 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Cintas will post 4.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC increased its holdings in shares of Cintas by 242.7% during the third quarter. Ballentine Partners LLC now owns 2,190 shares of the business services provider’s stock worth $451,000 after buying an additional 1,551 shares in the last quarter. Mediolanum International Funds Ltd raised its position in Cintas by 300.0% in the third quarter. Mediolanum International Funds Ltd now owns 2,204 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 1,653 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Cintas by 201.5% during the third quarter. Allworth Financial LP now owns 5,608 shares of the business services provider’s stock valued at $1,155,000 after purchasing an additional 3,748 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Cintas in the third quarter valued at approximately $263,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Cintas by 437.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 162,127 shares of the business services provider’s stock valued at $33,379,000 after buying an additional 131,946 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

About Cintas

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.