Cintas (NASDAQ:CTAS) PT Raised to $725.00 at Royal Bank of Canada

Cintas (NASDAQ:CTAS) had its price objective hoisted by research analysts at Royal Bank of Canada from $675.00 to $725.00 in a report issued on Thursday, StockNewsAPI reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 5.32% from the stock’s current price.

CTAS has been the topic of a number of other reports. Bank of America lifted their price objective on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday. Barclays boosted their price objective on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft cut shares of Cintas from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $551.00 to $590.00 in a research report on Friday, December 8th. The Goldman Sachs Group upped their target price on shares of Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas has a consensus rating of “Moderate Buy” and an average target price of $641.93.

Cintas Stock Performance

CTAS stock traded up $2.73 during trading on Thursday, reaching $688.37. 49,607 shares of the stock were exchanged, compared to its average volume of 331,243. Cintas has a twelve month low of $438.59 and a twelve month high of $704.84. The company has a market capitalization of $69.78 billion, a P/E ratio of 49.53, a price-to-earnings-growth ratio of 3.67 and a beta of 1.27. The stock has a 50 day simple moving average of $619.05 and a 200-day simple moving average of $566.70. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The business had revenue of $2.41 billion for 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 for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $3.14 earnings per share. As a group, sell-side analysts anticipate that Cintas will post 14.57 earnings per share for the current year.

Institutional Investors Weigh In On Cintas

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP increased its holdings in shares of Cintas by 221.1% during the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after purchasing an additional 42 shares during the period. Janiczek Wealth Management LLC increased its holdings in shares of Cintas by 113.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after purchasing an additional 26 shares during the period. Catalyst Capital Advisors LLC increased its holdings in shares of Cintas by 33.9% during the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after purchasing an additional 19 shares during the period. Sunbelt Securities Inc. bought a new position in shares of Cintas during the first quarter worth approximately $36,000. Finally, Clearstead Advisors LLC bought a new position in shares of Cintas during the third quarter worth approximately $39,000. 63.46% of the stock is owned by institutional investors.

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.