Morgan Stanley Increases Cintas (NASDAQ:CTAS) Price Target to $223.00

Cintas (NASDAQ:CTAS) had its price target raised by equities research analysts at Morgan Stanley from $217.00 to $223.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “underweight” rating on the business services provider’s stock. Morgan Stanley’s price objective points to a potential downside of 16.67% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Nomura raised their target price on shares of Cintas from $217.00 to $248.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Barclays set a $295.00 target price on shares of Cintas and gave the company a “buy” rating in a research report on Friday, September 27th. BidaskClub lowered shares of Cintas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Stifel Nicolaus raised their target price on shares of Cintas from $226.00 to $256.00 and gave the company a “hold” rating in a research report on Wednesday, September 25th. Finally, ValuEngine downgraded shares of Cintas from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $262.40.

Shares of Cintas stock opened at $267.61 on Thursday. Cintas has a fifty-two week low of $155.98 and a fifty-two week high of $271.78. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market capitalization of $27.63 billion, a P/E ratio of 32.99, a P/E/G ratio of 2.96 and a beta of 1.00. The company’s 50 day moving average price is $259.40 and its two-hundred day moving average price is $238.83.

Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 24th. The business services provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.17. Cintas had a net margin of 13.18% and a return on equity of 28.61%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business posted $1.93 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts expect that Cintas will post 8.57 earnings per share for the current year.

In other news, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction on 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 owns 69,053 shares of the company’s stock, valued at $18,008,331.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total transaction 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 disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in Cintas during the second quarter worth $25,000. Coastal Investment Advisors Inc. bought a new position in Cintas during the second quarter worth $36,000. Sonora Investment Management LLC bought a new position in Cintas during the second quarter worth $42,000. Capital Investment Advisory Services LLC bought a new position in Cintas during the second quarter worth $52,000. Finally, Lenox Wealth Management Inc. raised its stake in Cintas by 20.5% during the second quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock worth $55,000 after buying an additional 40 shares during the last quarter. 66.26% of the stock is owned by hedge funds and other institutional investors.

About Cintas

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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Analyst Recommendations for Cintas (NASDAQ:CTAS)

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