Cintas (NASDAQ:CTAS) PT Lowered to $200.00

Cintas (NASDAQ:CTAS) had its target price dropped by research analysts at Jefferies Financial Group from $730.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price target suggests a potential downside of 1.16% from the company’s current price.

CTAS has been the topic of a number of other research reports. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday. Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday. Barclays cut their price target on Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

CTAS stock opened at $202.35 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $208.63 and its 200 day simple moving average is $183.66. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 4.09 and a beta of 1.32. Cintas has a 12-month low of $119.69 and a 12-month high of $211.57.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $3.70 EPS. On average, analysts expect that Cintas will post 4.16 earnings per share for the current year.

Cintas declared that its board has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 acquiring an additional 112,361 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Cintas by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after buying an additional 3,471 shares in the last quarter. Nordea Investment Management AB lifted its stake 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 buying an additional 37,727 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Cintas by 21.1% during the 2nd quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock valued at $271,323,000 after buying an additional 67,440 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after buying an additional 201,955 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

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.