Cintas (NASDAQ:CTAS) Price Target Increased to $236.00 by Analysts at The Goldman Sachs Group

Cintas (NASDAQ:CTAS) had its price objective hoisted by The Goldman Sachs Group from $212.00 to $236.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 11.68% from the company’s previous close.

A number of other research firms have also recently weighed in on CTAS. Barclays decreased their price objective on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Stifel Nicolaus lifted their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $197.11.

Cintas Trading Up 2.0 %

Shares of CTAS traded up $4.10 during trading hours on Thursday, hitting $211.31. The stock had a trading volume of 594,661 shares, compared to its average volume of 1,479,818. The firm has a market cap of $21.44 billion, a P/E ratio of 14.58, a P/E/G ratio of 4.09 and a beta of 1.32. 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 company’s fifty day simple moving average is $208.28 and its 200 day simple moving average is $183.50. Cintas has a 12-month low of $118.68 and a 12-month high of $211.56.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm posted $3.70 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Cintas will post 4.16 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of Cintas 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 transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. 15.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cintas

A number of large investors have recently made changes to their positions in the business. LGT Financial Advisors LLC increased 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 acquiring an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Cintas during the 2nd quarter worth $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas in the 1st quarter valued at $29,000. Rise Advisors LLC bought a new stake in Cintas during the first quarter valued at about $30,000. Finally, Meeder Asset Management Inc. grew its position in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.