Morgan Stanley Boosts Cintas (NASDAQ:CTAS) Price Target to $625.00

Cintas (NASDAQ:CTAS) had its price objective upped by Morgan Stanley from $575.00 to $625.00 in a research report released on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

A number of other brokerages also recently issued reports on CTAS. Truist Financial raised their price target on shares of Cintas from $775.00 to $850.00 and gave the company a buy rating in a report on Friday. Royal Bank of Canada lowered shares of Cintas from an outperform rating to a sector perform rating and set a $725.00 target price for the company. in a research note on Monday, July 15th. Robert W. Baird restated a neutral rating and issued a $775.00 price target (up from $750.00) on shares of Cintas in a research note on Friday. StockNews.com raised Cintas from a hold rating to a buy rating in a report on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Cintas from $629.00 to $726.00 and gave the company a hold rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $749.00.

Cintas Trading Up 1.8 %

Shares of NASDAQ CTAS opened at $772.05 on Friday. The company has a market cap of $78.33 billion, a PE ratio of 53.32, a P/E/G ratio of 3.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.03 and a current ratio of 1.74. The firm’s 50 day moving average price is $701.89 and its 200-day moving average price is $659.66. Cintas has a 52-week low of $474.74 and a 52-week high of $773.78.

Cintas’s stock is set to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.19. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.33 EPS. On average, equities research analysts expect that Cintas will post 16.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 2,291 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total value of $1,589,839.45. Following the completion of the transaction, the director now directly owns 6,655 shares in the company, valued at $4,618,237.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cintas news, COO Jim Rozakis sold 1,318 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total transaction of $914,309.78. Following the sale, the chief operating officer now directly owns 59,770 shares of the company’s stock, valued at $41,463,046.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 2,291 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total value of $1,589,839.45. Following the completion of the transaction, the director now owns 6,655 shares in the company, valued at $4,618,237.25. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.

Institutional Trading of Cintas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Cintas by 1.1% during the 4th 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 in the last quarter. Norges Bank purchased a new position in Cintas during the fourth quarter valued at $872,895,000. Bank of New York Mellon Corp increased its holdings in Cintas by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 806,369 shares of the business services provider’s stock valued at $554,000,000 after acquiring an additional 27,470 shares during the last quarter. Brown Advisory Inc. lifted its stake in Cintas by 2.2% in the 4th quarter. Brown Advisory Inc. now owns 726,515 shares of the business services provider’s stock worth $437,842,000 after purchasing an additional 15,444 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Cintas by 6.3% during the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after purchasing an additional 37,727 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

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.