Cintas (NASDAQ:CTAS) Price Target Raised to $191.00 at Wells Fargo & Company

Cintas (NASDAQ:CTAS) had its target price hoisted by investment analysts at Wells Fargo & Company from $184.00 to $191.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 9.03% from the company’s current price.

Several other research analysts have also recently issued reports on CTAS. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Royal Bank of Canada raised their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. UBS Group raised their price objective on shares of Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus price target of $193.91.

Cintas Stock Performance

NASDAQ CTAS traded up $2.75 during trading hours on Thursday, hitting $209.96. The company had a trading volume of 322,165 shares, compared to its average volume of 1,478,353. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The firm has a market cap of $21.30 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas has a fifty-two week low of $118.68 and a fifty-two week high of $210.99. The business has a fifty day simple moving average of $208.28 and a 200-day simple moving average of $183.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business 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 company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 EPS. Equities analysts predict that Cintas will post 4.16 EPS for the current year.

Cintas declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated 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 sale, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 15.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in Cintas by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after acquiring an additional 838 shares during the period. QRG Capital Management Inc. raised its stake in shares of Cintas by 111.5% in the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after purchasing an additional 3,878 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in Cintas by 105.7% in the second quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock worth $3,515,000 after purchasing an additional 2,580 shares during the period. Journey Advisory Group LLC increased its holdings in Cintas by 17.1% in the 2nd quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock valued at $4,511,000 after buying an additional 940 shares during the period. Finally, Bensler LLC lifted its holdings in shares of Cintas by 4.7% during the 2nd quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock worth $10,048,000 after acquiring an additional 646 shares during the period. 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.