Robert W. Baird Reiterates “Buy” Rating for Cintas (NASDAQ:CTAS)

Cintas (NASDAQ:CTAS)‘s stock had its “buy” rating reiterated by investment analysts at Robert W. Baird in a note issued to investors on Wednesday, AnalystRatings.com reports.

A number of other research analysts have also recently commented on the company. Argus upped their price target on Cintas from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, July 20th. Barclays upped their price objective on Cintas from $405.00 to $415.00 and gave the stock an “overweight” rating in a research report on Friday, July 16th. Credit Suisse Group upped their price objective on Cintas from $350.00 to $375.00 and gave the stock a “neutral” rating in a research report on Friday, July 16th. Morgan Stanley upped their price objective on Cintas from $333.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Friday, July 16th. Finally, The Goldman Sachs Group upped their price objective on Cintas from $387.00 to $411.00 and gave the stock a “buy” rating in a research report on Tuesday, June 22nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $400.44.

Shares of Cintas stock opened at $396.11 on Wednesday. The stock has a market cap of $40.79 billion, a P/E ratio of 38.68, a P/E/G ratio of 3.95 and a beta of 1.50. The stock’s 50 day simple moving average is $391.26 and its 200-day simple moving average is $366.20. Cintas has a 1-year low of $307.65 and a 1-year high of $409.80. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.47 and a quick ratio of 1.22.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, July 14th. The business services provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.17. Cintas had a return on equity of 30.22% and a net margin of 15.61%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts expect that Cintas will post 10.69 EPS for the current fiscal year.

In other Cintas news, SVP Thomas E. Frooman sold 16,904 shares of the stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $392.46, for a total value of $6,634,143.84. Following the completion of the transaction, the senior vice president now directly owns 96,357 shares of the company’s stock, valued at $37,816,268.22. The sale was disclosed in a filing with the SEC, which is available at this link. 15.80% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in shares of Cintas by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 1,150,459 shares of the business services provider’s stock valued at $439,476,000 after purchasing an additional 129,562 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Cintas by 3.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 324,855 shares of the business services provider’s stock valued at $124,095,000 after purchasing an additional 11,637 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG boosted its holdings in shares of Cintas by 2,654.0% in the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 43,569 shares of the business services provider’s stock valued at $16,644,000 after purchasing an additional 41,987 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Cintas in the 2nd quarter valued at $1,738,000. Finally, Mariner LLC boosted its holdings in shares of Cintas by 3.0% in the 2nd quarter. Mariner LLC now owns 15,637 shares of the business services provider’s stock valued at $5,973,000 after purchasing an additional 454 shares during the last quarter. 63.62% of the stock is owned by hedge funds and other institutional investors.

About Cintas

Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.

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Analyst Recommendations for Cintas (NASDAQ:CTAS)

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