Barclays PLC Increases Cintas Corporation (CTAS) Price Target to $160.00
Cintas Corporation (NASDAQ:CTAS) had its price objective hoisted by Barclays PLC from $150.00 to $160.00 in a report issued on Wednesday morning. They currently have an overweight rating on the business services provider’s stock.
A number of other equities research analysts have also weighed in on the stock. Instinet lowered shares of Cintas Corporation from a buy rating to a neutral rating and reduced their price objective for the company from $142.00 to $130.00 in a report on Tuesday, June 27th. Nomura lowered shares of Cintas Corporation from a buy rating to a neutral rating in a report on Wednesday, June 28th. Deutsche Bank AG set a $130.00 price objective on shares of Cintas Corporation and gave the company a hold rating in a report on Friday, July 21st. Zacks Investment Research upgraded shares of Cintas Corporation from a hold rating to a buy rating and set a $142.00 price target on the stock in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada reiterated a hold rating and set a $130.00 price target on shares of Cintas Corporation in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Cintas Corporation currently has an average rating of Hold and an average target price of $140.70.
Cintas Corporation (CTAS) opened at 144.28 on Wednesday. The firm has a 50-day moving average of $133.77 and a 200 day moving average of $127.29. Cintas Corporation has a 12-month low of $102.07 and a 12-month high of $144.66. The stock has a market capitalization of $15.32 billion, a price-to-earnings ratio of 28.28 and a beta of 0.85.
Cintas Corporation (NASDAQ:CTAS) last announced its quarterly earnings data on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.18. Cintas Corporation had a net margin of 9.79% and a return on equity of 23.71%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the business earned $1.26 EPS. The company’s revenue was up 27.2% on a year-over-year basis. On average, analysts predict that Cintas Corporation will post $5.35 earnings per share for the current fiscal year.
In other Cintas Corporation news, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total transaction of $267,380.00. Following the transaction, the director now directly owns 13,135 shares of the company’s stock, valued at approximately $1,756,018.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO J. Michael Hansen sold 800 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $130.75, for a total transaction of $104,600.00. Following the transaction, the chief financial officer now directly owns 54,370 shares in the company, valued at $7,108,877.50. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of CTAS. Parallel Advisors LLC grew its position in Cintas Corporation by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 862 shares of the business services provider’s stock worth $104,000 after purchasing an additional 140 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Cintas Corporation during the 2nd quarter worth $120,000. QS Investors LLC grew its position in Cintas Corporation by 1.0% during the 2nd quarter. QS Investors LLC now owns 995 shares of the business services provider’s stock worth $125,000 after purchasing an additional 10 shares during the last quarter. YorkBridge Wealth Partners LLC grew its position in Cintas Corporation by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,056 shares of the business services provider’s stock worth $133,000 after purchasing an additional 33 shares during the last quarter. Finally, First Personal Financial Services grew its position in Cintas Corporation by 0.8% during the 2nd quarter. First Personal Financial Services now owns 1,147 shares of the business services provider’s stock worth $145,000 after purchasing an additional 9 shares during the last quarter. 64.76% of the stock is currently owned by institutional investors.
Cintas Corporation Company Profile
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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