Cintas (NASDAQ:CTAS) Price Target Raised to $209.00 at Robert W. Baird

Cintas (NASDAQ:CTAS) had its target price increased by investment analysts at Robert W. Baird from $194.00 to $209.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 0.86% from the stock’s current price.

Several other brokerages have also recently commented on CTAS. Barclays lowered their target price on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Stifel Nicolaus raised their target price on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Truist Financial raised their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and an average price target of $187.39.

Cintas Stock Up 1.2 %

Cintas stock opened at $207.21 on Thursday. The stock has a market cap of $21.02 billion, a P/E ratio of 14.31, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. Cintas has a twelve month low of $118.68 and a twelve month high of $209.59. The company’s 50-day moving average price is $207.74 and its two-hundred day moving average price is $183.33.

Cintas (NASDAQ:CTAS) last released 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 firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.70 EPS. As a group, analysts expect that Cintas will post 4.16 EPS for the current year.

Cintas announced that its board has initiated a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire 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.

Insider Buying and Selling

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 value of $842,292.00. Following the sale, the director now 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 accessible through this link. 15.10% of the stock is currently owned by company insiders.

Institutional Trading of Cintas

Hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Cintas by 12.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 82,314 shares of the business services provider’s stock worth $57,641,000 after purchasing an additional 9,314 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Cintas by 56.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,041 shares of the business services provider’s stock worth $729,000 after purchasing an additional 377 shares during the period. Heritage Wealth Management Inc. acquired a new position in shares of Cintas during the second quarter worth $2,008,000. Sanctuary Advisors LLC acquired a new position in shares of Cintas during the second quarter worth $8,454,000. Finally, Brown Financial Advisors acquired a new position in shares of Cintas during the second quarter worth $189,000. Institutional investors and hedge funds 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.