Cintas (NASDAQ:CTAS) Price Target Lowered to $215.00 at Truist Financial

Cintas (NASDAQ:CTAS) had its target price dropped by Truist Financial from $225.00 to $215.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target would suggest a potential upside of 17.63% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Barclays lifted their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Robert W. Baird cut their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday. UBS Group increased their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, Morgan Stanley raised their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $197.57.

Cintas Stock Performance

Shares of CTAS traded down $0.01 during trading hours on Friday, hitting $182.78. The company’s stock had a trading volume of 793,184 shares, compared to its average volume of 1,500,019. The business has a 50 day simple moving average of $214.74 and a two-hundred day simple moving average of $202.86. Cintas has a 52-week low of $142.18 and a 52-week high of $228.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The company has a market cap of $73.71 billion, a price-to-earnings ratio of 46.16, a PEG ratio of 4.15 and a beta of 1.33.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the business posted $3.61 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Cintas will post 4.23 earnings per share for the current fiscal year.

Institutional Trading of Cintas

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

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.