Cintas (NASDAQ:CTAS) PT Raised to $240.00

Cintas (NASDAQ:CTAS) had its target price upped by research analysts at UBS Group from $219.00 to $240.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. UBS Group’s target price suggests a potential upside of 18.61% from the stock’s previous close.

Several other research firms have also weighed in on CTAS. Barclays lowered their price objective on Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Wells Fargo & Company upped their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday. Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Robert W. Baird upped their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada upped their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Trading Down 2.3 %

Shares of CTAS opened at $202.35 on Thursday. Cintas has a 12-month low of $119.69 and a 12-month high of $211.57. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $20.53 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 4.09 and a beta of 1.32. The stock’s 50-day moving average price is $208.63 and its 200 day moving average price is $183.66.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company posted $3.70 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts predict that Cintas will post 4.16 earnings per share for the current year.

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

Insider Activity

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CTAS. Vantage Financial Partners LLC acquired a new position in shares of Cintas in the 4th quarter valued at $1,029,000. Aveo Capital Partners LLC lifted its stake in shares of Cintas by 4.0% in the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock valued at $689,000 after purchasing an additional 44 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Cintas by 8.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock valued at $3,797,000 after buying an additional 502 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Cintas by 11.6% in the 4th quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock valued at $671,000 after buying an additional 116 shares in the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Cintas in the 4th quarter valued at $1,471,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.