Truist Financial Forecasts Strong Price Appreciation for Cintas (NASDAQ:CTAS) Stock

Cintas (NASDAQ:CTAS) had its price objective increased by investment analysts at Truist Financial from $215.00 to $230.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price would suggest a potential upside of 13.18% from the company’s current price.

Several other analysts have also issued reports on the company. The Goldman Sachs Group cut their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley boosted their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. UBS Group lowered their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $210.58.

Cintas Price Performance

Shares of Cintas stock opened at $203.22 on Thursday. Cintas has a 52 week low of $162.16 and a 52 week high of $228.12. 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 company’s 50-day moving average price is $201.01 and its two-hundred day moving average price is $208.88. The stock has a market cap of $82.01 billion, a PE ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $3.84 EPS. As a group, sell-side analysts anticipate that Cintas will post 4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cintas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC bought a new position in Cintas in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Cintas during the 4th quarter worth about $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Cintas in the 4th quarter valued at about $31,000. IAG Wealth Partners LLC grew its holdings in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Cintas during the fourth quarter worth approximately $34,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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.