Robert W. Baird Forecasts Strong Price Appreciation for Cintas (NASDAQ:CTAS) Stock

Cintas (NASDAQ:CTAS) had its price target hoisted by equities researchers at Robert W. Baird from $200.00 to $227.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s target price would suggest a potential upside of 11.05% from the stock’s previous close.

A number of other research analysts also recently weighed in on CTAS. The Goldman Sachs Group reduced 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. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday. Morgan Stanley upped their target price 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. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Finally, Citigroup initiated coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus target price of $202.57.

Cintas Trading Down 0.1 %

Shares of CTAS opened at $204.41 on Thursday. The firm has a fifty day simple moving average of $200.75 and a two-hundred day simple moving average of $208.89. Cintas has a twelve month low of $162.16 and a twelve month high of $228.12. The stock has a market capitalization of $82.49 billion, a P/E ratio of 49.29, a PEG ratio of 3.98 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its earnings results 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. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.84 earnings per share. On average, research analysts anticipate that Cintas will post 4.31 EPS for the current year.

Institutional Trading of Cintas

A number of institutional investors and hedge funds have recently bought and sold shares of CTAS. China Universal Asset Management Co. Ltd. grew its holdings in shares of Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after purchasing an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after purchasing an additional 6,341 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after buying an additional 529,005 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC raised its position in Cintas by 1.6% during the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after purchasing an additional 1,988 shares during the period. 63.46% of the stock is currently owned by 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.