Morgan Stanley Boosts Cintas (NASDAQ:CTAS) Price Target to $202.00

Cintas (NASDAQ:CTAS) had its price target upped by Morgan Stanley from $185.00 to $202.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 4.37% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Truist Financial upped their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Robert W. Baird upped their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $200.77.

Cintas Stock Performance

NASDAQ CTAS opened at $211.22 on Thursday. The firm’s fifty day moving average price is $215.13 and its two-hundred day moving average price is $201.91. The stock has a market cap of $85.19 billion, a PE ratio of 53.34, a PEG ratio of 4.15 and a beta of 1.33. Cintas has a fifty-two week low of $138.39 and a fifty-two week high of $228.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 EPS. On average, equities analysts expect that Cintas will post 4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Cintas

A number of institutional investors and hedge funds have recently made changes to their positions in CTAS. LGT Financial Advisors LLC lifted its stake in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares in the last quarter. Crewe Advisors LLC lifted its position in Cintas by 133.3% in the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 32 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Cintas in the second quarter valued at approximately $51,000. Finally, Field & Main Bank lifted its holdings in shares of Cintas by 25.0% in the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares in the last quarter. Institutional investors 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.