Morgan Stanley Forecasts Strong Price Appreciation for Cintas (NASDAQ:CTAS) Stock

Cintas (NASDAQ:CTAS) had its target price hoisted by equities researchers at Morgan Stanley from $195.00 to $213.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 4.81% from the company’s current price.

Other analysts also recently issued research reports about the company. UBS Group raised their price objective on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Thursday. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group cut their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $210.58.

Cintas Trading Down 1.5 %

Shares of NASDAQ:CTAS opened at $203.22 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $82.01 billion, a PE ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas has a 1 year low of $162.16 and a 1 year high of $228.12. The firm has a fifty day moving average price of $201.01 and a 200 day moving average price of $208.88.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.84 EPS. Analysts expect that Cintas will post 4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cintas

Institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC raised its holdings in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Norges Bank bought a new position in shares of Cintas during the fourth quarter worth $877,216,000. Franklin Resources Inc. grew its holdings in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after buying an additional 1,904,926 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

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.