Truist Financial Raises Cintas (NASDAQ:CTAS) Price Target to $775.00

Cintas (NASDAQ:CTAS) had its target price lifted by research analysts at Truist Financial from $660.00 to $775.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price points to a potential upside of 12.88% from the stock’s previous close.

Several other research analysts have also recently commented on CTAS. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a report on Thursday. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Monday. Barclays increased their target price on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Bank of America boosted their price target on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their price objective on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and an average price target of $649.60.

Cintas Stock Performance

Cintas stock traded up $0.94 during trading hours on Thursday, hitting $686.58. The company had a trading volume of 152,697 shares, compared to its average volume of 332,974. Cintas has a one year low of $438.59 and a one year high of $704.84. The firm has a market cap of $69.60 billion, a PE ratio of 49.84, a PEG ratio of 3.67 and a beta of 1.27. The firm has a 50-day moving average of $619.05 and a 200 day moving average of $566.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.24 and a quick ratio of 1.89.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $3.14 EPS. On average, sell-side analysts expect that Cintas will post 14.57 earnings per share for the current year.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently added to or reduced their stakes in CTAS. Quarry LP raised its stake in shares of Cintas by 221.1% during the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 42 shares during the last quarter. Janiczek Wealth Management LLC raised its position in Cintas by 113.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after purchasing an additional 26 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in Cintas by 33.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after buying an additional 19 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Cintas in the first quarter valued at about $36,000. Finally, Clearstead Advisors LLC bought a new position in shares of Cintas during the third quarter worth about $39,000. 63.46% of the stock is currently 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.