Morgan Stanley Lowers Cintas (NASDAQ:CTAS) Price Target to $357.00

Cintas (NASDAQ:CTASGet Rating) had its price objective dropped by analysts at Morgan Stanley from $389.00 to $357.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective points to a potential downside of 5.84% from the stock’s previous close.

Several other research analysts have also recently issued reports on CTAS. The Goldman Sachs Group increased their price objective on Cintas from $460.00 to $493.00 in a research report on Wednesday, March 23rd. Robert W. Baird raised their price target on Cintas from $430.00 to $458.00 and gave the company an “outperform” rating in a research report on Friday, March 25th. Argus dropped their price target on Cintas from $490.00 to $450.00 in a research report on Friday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Cintas in a research report on Tuesday, March 29th. They issued a “buy” rating and a $517.00 price target for the company. Finally, Bank of America initiated coverage on Cintas in a research report on Friday, March 11th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Buy” and a consensus target price of $448.20.

Shares of CTAS stock traded up $11.49 during trading hours on Thursday, hitting $379.14. The stock had a trading volume of 3,787 shares, compared to its average volume of 529,205. The firm has a market capitalization of $38.80 billion, a PE ratio of 33.55, a PEG ratio of 2.97 and a beta of 1.48. Cintas has a twelve month low of $345.33 and a twelve month high of $461.44. The stock’s 50 day moving average is $400.99 and its 200 day moving average is $405.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.84.

Cintas (NASDAQ:CTASGet Rating) last posted its quarterly earnings data on Wednesday, March 23rd. The business services provider reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.22. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.91 billion. Cintas had a return on equity of 34.05% and a net margin of 15.88%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.37 earnings per share. As a group, equities analysts predict that Cintas will post 11.24 earnings per share for the current year.

In other news, CFO J. Michael Hansen sold 8,200 shares of Cintas stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $424.23, for a total value of $3,478,686.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Michael Lawrence Thompson sold 12,500 shares of Cintas stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $423.24, for a total value of $5,290,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 28,933 shares in the company, valued at $12,245,602.92. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd lifted its position in Cintas by 44.3% during the 4th quarter. Qube Research & Technologies Ltd now owns 33,275 shares of the business services provider’s stock worth $14,746,000 after acquiring an additional 10,221 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its position in Cintas by 12.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 14,536 shares of the business services provider’s stock worth $6,442,000 after acquiring an additional 1,613 shares in the last quarter. Westpac Banking Corp increased its holdings in Cintas by 7.4% during the 4th quarter. Westpac Banking Corp now owns 7,213 shares of the business services provider’s stock worth $3,197,000 after purchasing an additional 500 shares during the last quarter. Fifth Third Bancorp increased its holdings in Cintas by 5.5% during the 4th quarter. Fifth Third Bancorp now owns 133,444 shares of the business services provider’s stock worth $59,138,000 after purchasing an additional 6,995 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in Cintas by 0.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 11,628 shares of the business services provider’s stock worth $5,153,000 after purchasing an additional 108 shares during the last quarter. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

About Cintas (Get Rating)

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.

Featured Stories

Stock Target Advisor logo

Analyst Recommendations for Cintas (NASDAQ:CTAS)

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.