Wells Fargo & Company Issues Pessimistic Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price objective lowered by investment analysts at Wells Fargo & Company from $191.00 to $184.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 1.57% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Morgan Stanley increased their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial lifted their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group increased their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cintas has a consensus rating of “Hold” and an average price target of $195.90.

Cintas Stock Performance

Shares of CTAS stock opened at $186.94 on Friday. The firm has a market capitalization of $75.39 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. The company has a 50 day moving average price of $214.31 and a 200 day moving average price of $203.21. Cintas has a one year low of $142.18 and a one year 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 released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm posted $3.61 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Cintas will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. FMR LLC lifted its holdings in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after acquiring an additional 1,904,926 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Company Profile

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.