Wells Fargo & Company Forecasts Strong Price Appreciation for Cintas (NASDAQ:CTAS) Stock

Cintas (NASDAQ:CTAS) had its price target raised by research analysts at Wells Fargo & Company from $184.00 to $196.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 4.25% from the stock’s previous close.

Several other research firms also recently weighed in on CTAS. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Truist Financial lowered their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. UBS Group cut their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group lowered their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Morgan Stanley boosted their price objective 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 analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $200.64.

Cintas Stock Up 5.8 %

Cintas stock opened at $204.71 on Thursday. Cintas has a 12 month low of $162.16 and a 12 month high of $228.12. The stock has a market capitalization of $82.61 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The business has a 50 day simple moving average of $200.75 and a 200-day simple moving average of $208.89.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the firm posted $3.84 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. On average, analysts anticipate that Cintas will post 4.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC purchased a new position in Cintas during the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas during the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Cintas in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC grew its holdings in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Cintas during the 4th quarter worth approximately $34,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

About Cintas

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.