Cintas (NASDAQ:CTAS – Get Rating) had its target price cut by analysts at Morgan Stanley from $389.00 to $357.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective would suggest a potential downside of 5.84% from the company’s previous close.
A number of other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Cintas in a research note on Tuesday, March 29th. They issued a “buy” rating and a $517.00 target price for the company. The Goldman Sachs Group lifted their price objective on shares of Cintas from $460.00 to $493.00 in a research note on Wednesday, March 23rd. Robert W. Baird lifted their price objective on shares of Cintas from $430.00 to $458.00 and gave the company an “outperform” rating in a research note on Friday, March 25th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 28th. Finally, Argus decreased their price objective on shares of Cintas from $490.00 to $450.00 in a research note on Friday, March 25th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Buy” and an average price target of $448.20.
Shares of NASDAQ:CTAS traded up $11.49 during trading on Thursday, reaching $379.14. The stock had a trading volume of 3,787 shares, compared to its average volume of 529,205. Cintas has a one year low of $345.33 and a one year high of $461.44. The company has a market capitalization of $38.80 billion, a P/E ratio of 33.55, a PEG ratio of 2.97 and a beta of 1.48. The company has a current ratio of 1.02, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $400.99 and its 200 day simple moving average is $405.70.
Cintas (NASDAQ:CTAS – Get Rating) last released its earnings results on Wednesday, March 23rd. The business services provider reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.22. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Cintas had a net margin of 15.88% and a return on equity of 34.05%. Cintas’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business earned $2.37 EPS. Equities research analysts forecast that Cintas will post 11.24 earnings per share for the current fiscal year.
In related news, CAO Michael Lawrence Thompson sold 12,500 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $423.24, for a total value of $5,290,500.00. Following the completion of the sale, the chief accounting officer now owns 28,933 shares of the company’s stock, valued at approximately $12,245,602.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO J. Michael Hansen sold 8,200 shares of the business’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $424.23, for a total transaction of $3,478,686.00. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Qube Research & Technologies Ltd boosted its stake in Cintas by 44.3% during the 4th quarter. Qube Research & Technologies Ltd now owns 33,275 shares of the business services provider’s stock worth $14,746,000 after purchasing an additional 10,221 shares during the last quarter. Carnegie Capital Asset Management LLC boosted its stake in Cintas by 12.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 14,536 shares of the business services provider’s stock worth $6,442,000 after purchasing an additional 1,613 shares during the last quarter. Westpac Banking Corp boosted its stake in Cintas by 7.4% during the 4th quarter. Westpac Banking Corp now owns 7,213 shares of the business services provider’s stock worth $3,197,000 after purchasing an additional 500 shares during the last quarter. Fifth Third Bancorp boosted its stake in Cintas by 5.5% during the 4th quarter. Fifth Third Bancorp now owns 133,444 shares of the business services provider’s stock worth $59,138,000 after purchasing an additional 6,995 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Cintas by 0.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 11,628 shares of the business services provider’s stock worth $5,153,000 after purchasing an additional 108 shares during the last quarter. 65.09% of the stock is currently owned by institutional investors.
About Cintas (Get Rating)
Cintas Corporation provides 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.