Cintas (NASDAQ:CTAS) PT Raised to $225.00 at Truist Financial

Cintas (NASDAQ:CTAS) had its target price increased by Truist Financial from $212.50 to $225.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price objective points to a potential upside of 10.42% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Barclays dropped their price objective on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a report on Friday. UBS Group lifted their price objective on shares of Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a report on Friday, July 19th. Wells Fargo & Company upgraded shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cintas has an average rating of “Hold” and a consensus price target of $186.30.

Cintas Stock Performance

Cintas stock traded down $1.18 during mid-day trading on Tuesday, reaching $203.77. 1,194,675 shares of the company traded hands, compared to its average volume of 1,475,086. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. Cintas has a fifty-two week low of $118.68 and a fifty-two week high of $209.12. The company has a market capitalization of $20.68 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. The firm’s fifty day moving average is $204.83 and its two-hundred day moving average is $181.35.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.83 earnings per share. On average, equities research analysts expect that Cintas will post 16.64 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Cintas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTAS. Nisa Investment Advisors LLC increased its position in shares of Cintas by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after purchasing an additional 838 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Cintas by 111.5% in the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after acquiring an additional 3,878 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Cintas by 105.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock worth $3,515,000 after buying an additional 2,580 shares in the last quarter. Journey Advisory Group LLC increased its holdings in Cintas by 17.1% in the 2nd quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock worth $4,511,000 after purchasing an additional 940 shares in the last quarter. Finally, Bensler LLC increased its holdings in Cintas by 4.7% in the 2nd quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock worth $10,048,000 after purchasing an additional 646 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

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.