Bank of America Boosts Cintas (NASDAQ:CTAS) Price Target to $790.00

Cintas (NASDAQ:CTAS) had its target price raised by analysts at Bank of America from $700.00 to $790.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Bank of America‘s target price points to a potential upside of 15.22% from the stock’s current price.

A number of other equities research analysts also recently commented on CTAS. The Goldman Sachs Group upped their price objective on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. Royal Bank of Canada boosted their target price on Cintas from $525.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, December 22nd. Truist Financial boosted their target price on Cintas from $645.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus boosted their target price on Cintas from $526.00 to $585.00 and gave the company a “hold” rating in a research note on Friday, December 22nd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $613.20.

Cintas Trading Up 8.2 %

CTAS stock opened at $685.64 on Thursday. The company has a market cap of $69.50 billion, a P/E ratio of 49.76, a PEG ratio of 3.67 and a beta of 1.27. Cintas has a twelve month low of $436.54 and a twelve month high of $704.84. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $619.05 and a 200-day moving average of $566.70.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.14 earnings per share. As a group, equities research analysts expect that Cintas will post 14.57 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after buying an additional 112,361 shares during the period. State Street Corp grew its stake in Cintas by 0.4% during the second quarter. State Street Corp now owns 3,782,333 shares of the business services provider’s stock worth $1,880,122,000 after buying an additional 14,694 shares in the last quarter. FMR LLC increased its stake in Cintas by 5.5% in the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after acquiring an additional 123,468 shares during the last quarter. Geode Capital Management LLC raised its position in Cintas by 2.3% during the first quarter. Geode Capital Management LLC now owns 1,871,093 shares of the business services provider’s stock valued at $863,795,000 after purchasing an additional 41,237 shares in the last quarter. Finally, Norges Bank acquired a new position in Cintas during the fourth quarter valued at approximately $872,895,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Company Profile

Cintas Corporation provides 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.