Truist Financial Issues Pessimistic Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price target lowered by investment analysts at Truist Financial from $255.00 to $225.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target would suggest a potential upside of 27.64% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective on the stock. Citigroup dropped their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings downgraded Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. UBS Group reissued a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Stifel Nicolaus dropped their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $215.92.

Cintas Stock Performance

NASDAQ CTAS opened at $176.28 on Monday. The business’s 50-day moving average price is $173.55 and its two-hundred day moving average price is $184.30. Cintas has a 12 month low of $161.16 and a 12 month high of $226.75. The firm has a market capitalization of $70.53 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.80 and a beta of 0.94. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The business’s revenue was up 8.9% on a year-over-year basis. On average, analysts expect that Cintas will post 4.89 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nemes Rush Group LLC acquired a new position in Cintas during the 4th quarter worth approximately $25,000. First United Bank & Trust acquired a new position in Cintas during the 1st quarter worth approximately $25,000. Whipplewood Advisors LLC raised its stake in Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after buying an additional 137 shares during the period. Swiss RE Ltd. acquired a new position in Cintas during the 4th quarter worth approximately $25,000. Finally, Camelot Portfolios LLC acquired a new position in Cintas during the 4th quarter worth approximately $26,000. 63.46% of the stock is owned by institutional investors and hedge funds.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.