Cintas (NASDAQ:CTAS) Price Target Raised to $765.00

Cintas (NASDAQ:CTAS) had its price objective boosted by stock analysts at The Goldman Sachs Group from $673.00 to $765.00 in a report released on Thursday, Briefing.com reports. The brokerage presently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 11.57% from the company’s current price.

A number of other analysts also recently issued reports on CTAS. JPMorgan Chase & Co. raised their target price on Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Royal Bank of Canada increased their price target on Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday, December 22nd. Truist Financial increased their price target on Cintas from $645.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft cut Cintas from a “buy” rating to a “hold” rating and increased their price target for the stock from $551.00 to $590.00 in a report on Friday, December 8th. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $613.20.

Cintas Stock Up 8.2 %

NASDAQ CTAS opened at $685.64 on Thursday. The business has a fifty day moving average price of $619.05 and a 200 day moving average price of $566.70. Cintas has a one year low of $436.54 and a one year high of $704.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 2.24. The company has a market cap of $69.50 billion, a P/E ratio of 49.76, a P/E/G ratio of 3.67 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the company earned $3.14 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. Research analysts anticipate that Cintas will post 14.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Cintas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Cintas in the fourth quarter valued at approximately $872,895,000. Select Equity Group L.P. raised its stake in shares of Cintas by 1,344.1% during the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after purchasing an additional 440,662 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Cintas by 52.5% during the second quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock worth $422,825,000 after purchasing an additional 292,701 shares during the last quarter. Barclays PLC raised its stake in shares of Cintas by 121.8% during the fourth quarter. Barclays PLC now owns 519,000 shares of the business services provider’s stock worth $312,780,000 after purchasing an additional 284,985 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Cintas by 475.7% during the fourth quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock worth $180,423,000 after purchasing an additional 247,378 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

About Cintas

Cintas Corporation provides 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.