Cintas (NASDAQ:CTAS) Coverage Initiated at Citigroup

Analysts at Citigroup assumed coverage on shares of Cintas (NASDAQ:CTAS) in a research note issued to investors on Monday. The brokerage set a “sell” rating and a $161.00 price target on the business services provider’s stock. Citigroup’s price objective suggests a potential downside of 21.24% from the stock’s previous close.

Several other brokerages have also recently commented on CTAS. Morgan Stanley lifted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Robert W. Baird lowered their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company cut their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Truist Financial decreased their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Stock Down 0.7 %

Cintas stock opened at $204.43 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market capitalization of $82.50 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 3.98 and a beta of 1.38. Cintas has a 1-year low of $154.15 and a 1-year high of $228.12. The business has a fifty day moving average price of $196.53 and a 200-day moving average price of $208.39.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the business earned $3.61 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Cintas will post 4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cintas

A number of institutional investors have recently modified their holdings of CTAS. State Street Corp grew its position in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC boosted its holdings in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the last quarter. Norges Bank acquired a new stake in Cintas in the 4th quarter worth about $877,216,000. Finally, Franklin Resources Inc. boosted its holdings in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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.