Analysts Set Cintas Co. (NASDAQ:CTAS) Target Price at $199.63

Shares of Cintas Co. (NASDAQ:CTAS) have been given a consensus recommendation of “Hold” by the seventeen brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $199.63.

Several equities analysts have recently weighed in on the company. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Stifel Nicolaus raised their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Truist Financial lifted 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. Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group boosted their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th.

Hedge Funds Weigh In On Cintas

Several institutional investors have recently made changes to their positions in CTAS. Alecta Tjanstepension Omsesidigt raised its holdings in Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares during the period. Legal & General Group Plc raised its stake in shares of Cintas by 0.4% in the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after buying an additional 3,471 shares during the period. Nordea Investment Management AB lifted its position in shares of Cintas by 6.3% during the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after buying an additional 37,727 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Cintas by 300.0% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock valued at $105,170,000 after acquiring an additional 383,124 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after acquiring an additional 486,500 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.3 %

NASDAQ:CTAS opened at $209.13 on Tuesday. Cintas has a one year low of $123.65 and a one year high of $215.37. The company’s 50-day simple moving average is $215.86 and its 200 day simple moving average is $189.89. The firm has a market capitalization of $21.22 billion, a P/E ratio of 14.44, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous 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. As a group, analysts forecast that Cintas will post 4.23 EPS for the current fiscal year.

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

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.