Stifel Nicolaus Boosts Cintas (NASDAQ:CTAS) Price Target to $798.00

Cintas (NASDAQ:CTAS) had its target price lifted by Stifel Nicolaus from $667.00 to $798.00 in a research note released on Friday, Benzinga reports. They currently have a hold rating on the business services provider’s stock.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Cintas from $629.00 to $726.00 and gave the stock a hold rating in a research report on Thursday, March 28th. Truist Financial boosted their price target on Cintas from $660.00 to $775.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Bank of America boosted their price target on Cintas from $700.00 to $790.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Oppenheimer reissued a market perform rating on shares of Cintas in a research note on Monday, April 1st. Finally, UBS Group boosted their price target on Cintas from $680.00 to $790.00 and gave the stock a buy rating in a research note 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $749.00.

Cintas Stock Performance

NASDAQ CTAS opened at $772.05 on Friday. The company has a current ratio of 1.74, a quick ratio of 2.03 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $701.89 and its two-hundred day moving average is $659.66. Cintas has a 12-month low of $474.74 and a 12-month high of $773.78. The stock has a market capitalization of $78.33 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 3.84 and a beta of 1.31.

Shares of Cintas 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 distributed to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.19. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the firm posted $3.33 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts expect that Cintas will post 16.6 EPS for the current year.

Insider Activity at Cintas

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

Institutional Investors Weigh In On Cintas

Several hedge funds have recently made changes to their positions in CTAS. Atwood & Palmer Inc. acquired a new stake in shares of Cintas during the second quarter worth $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas during the first quarter worth $29,000. Janiczek Wealth Management LLC boosted 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 last quarter. Rise Advisors LLC acquired a new stake in shares of Cintas during the first quarter worth $30,000. Finally, Webster Bank N. A. acquired a new stake in shares of Cintas during the first quarter worth $38,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

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.