Barclays set a $295.00 price objective on Cintas (NASDAQ:CTAS) in a research report sent to investors on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the business services provider’s stock.
CTAS has been the topic of several other reports. Zacks Investment Research raised shares of Cintas from a hold rating to a buy rating and set a $280.00 target price on the stock in a research note on Thursday. Morgan Stanley increased their target price on shares of Cintas from $202.00 to $217.00 and gave the stock an underweight rating in a research note on Wednesday, September 25th. Robert W. Baird raised their price target on shares of Cintas from $267.00 to $300.00 and gave the company an outperform rating in a research note on Wednesday, September 25th. BidaskClub lowered shares of Cintas from a buy rating to a hold rating in a research note on Wednesday, September 11th. Finally, Nomura raised their price target on shares of Cintas from $217.00 to $248.00 and gave the company a neutral rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $261.80.
Shares of CTAS stock traded up $1.97 during mid-day trading on Friday, hitting $268.10. 419,629 shares of the stock were exchanged, compared to its average volume of 530,024. The firm has a fifty day moving average of $259.83 and a 200 day moving average of $235.62. The company has a quick ratio of 1.69, a current ratio of 2.04 and a debt-to-equity ratio of 0.87. Cintas has a 52-week low of $155.98 and a 52-week high of $270.36. The company has a market cap of $28.10 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98.
Cintas (NASDAQ:CTAS) last posted its earnings results on Tuesday, September 24th. The business services provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.17. Cintas had a net margin of 13.18% and a return on equity of 28.61%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the company posted $1.93 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts predict that Cintas will post 8.57 EPS for the current year.
In related news, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total value of $1,401,224.67. Following the transaction, the vice president now directly owns 127,624 shares of the company’s stock, valued at approximately $33,283,062.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total transaction of $1,274,741.52. Following the completion of the transaction, the insider now directly owns 69,053 shares in the company, valued at $18,008,331.87. The disclosure for this sale can be found here. Company insiders own 15.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CTAS. Krane Funds Advisors LLC acquired a new stake in Cintas in the 2nd quarter valued at about $25,000. Coastal Investment Advisors Inc. acquired a new stake in Cintas in the 2nd quarter valued at about $36,000. Sonora Investment Management LLC acquired a new stake in Cintas in the 2nd quarter valued at about $42,000. Capital Investment Advisory Services LLC acquired a new stake in Cintas in the 2nd quarter valued at about $52,000. Finally, Lenox Wealth Management Inc. raised its holdings in Cintas by 20.5% in the 2nd quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 66.26% of the company’s stock.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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