Royal Bank of Canada Reaffirms Sector Perform Rating for Cintas (NASDAQ:CTAS)

Cintas (NASDAQ:CTAS)‘s stock had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $215.00 price objective on the business services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 4.21% from the stock’s current price.

Several other equities analysts have also weighed in on CTAS. The Goldman Sachs Group reduced their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Truist Financial decreased their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup began coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. UBS Group decreased their target price on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Robert W. Baird upped their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $203.64.

Cintas Stock Up 0.8 %

CTAS traded up $1.60 during mid-day trading on Thursday, reaching $206.31. 498,570 shares of the stock were exchanged, compared to its average volume of 1,539,099. Cintas has a 1 year low of $162.16 and a 1 year high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market capitalization of $83.25 billion, a PE ratio of 49.75, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a 50 day moving average price of $200.75 and a two-hundred day moving average price of $208.89.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the firm posted $3.84 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Cintas will post 4.31 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in Cintas during the fourth quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas during the 4th quarter valued at about $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Cintas during the fourth quarter worth about $31,000. IAG Wealth Partners LLC increased its position in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Cintas in the fourth quarter valued at approximately $34,000. 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.