Cintas (NASDAQ:CTAS) Given New $850.00 Price Target at Barclays

Cintas (NASDAQ:CTAS) had its price objective lifted by Barclays from $700.00 to $850.00 in a report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

CTAS has been the topic of a number of other research reports. The Goldman Sachs Group raised their target price on Cintas from $673.00 to $765.00 and gave the company a buy rating in a report on Thursday, March 28th. Stifel Nicolaus raised their target price on Cintas from $667.00 to $798.00 and gave the company a hold rating in a report on Friday. UBS Group raised their price objective on Cintas from $680.00 to $790.00 and gave the company a buy rating in a report on Thursday, March 28th. Bank of America raised their price objective on Cintas from $700.00 to $790.00 and gave the company a buy rating in a report on Thursday, March 28th. Finally, Citigroup downgraded Cintas from a neutral rating to a sell rating and raised their price objective for the company from $530.00 to $570.00 in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has an average rating of Hold and a consensus target price of $749.00.

Cintas Trading Up 1.8 %

Shares of NASDAQ:CTAS opened at $772.05 on Friday. The company has a market capitalization of $78.33 billion, a P/E ratio of 53.32, a P/E/G ratio of 3.84 and a beta of 1.31. Cintas has a 1 year low of $474.74 and a 1 year high of $773.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 2.03. The business’s 50 day simple moving average is $701.89 and its 200 day simple moving average is $659.66.

Cintas shares are 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 payable to shareholders after the closing bell on Wednesday, September 11th.

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

Insider Buying and Selling

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

Institutional Trading of Cintas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTAS. Norges Bank bought a new stake in Cintas in the 4th quarter valued at about $872,895,000. Clearbridge Investments LLC increased its position in Cintas by 475.7% in the 4th quarter. Clearbridge Investments LLC now owns 299,378 shares of the business services provider’s stock valued at $180,423,000 after buying an additional 247,378 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in Cintas by 711.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock valued at $91,915,000 after buying an additional 133,713 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Cintas by 280.6% during the 4th quarter. BNP Paribas Financial Markets now owns 171,263 shares of the business services provider’s stock valued at $103,213,000 after purchasing an additional 126,266 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in Cintas during the 1st quarter valued at about $84,646,000. 63.46% of the stock is owned by institutional investors.

About Cintas

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.