Cintas (NASDAQ:CTAS) Given New $200.00 Price Target at Jefferies Financial Group

Cintas (NASDAQ:CTAS) had its target price dropped by analysts at Jefferies Financial Group from $730.00 to $200.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price objective points to a potential downside of 4.50% from the company’s previous close.

CTAS has been the topic of several other research reports. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Morgan Stanley lifted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, UBS Group lifted their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $197.30.

Cintas Price Performance

Shares of CTAS stock traded up $2.22 during mid-day trading on Thursday, reaching $209.43. The company’s stock had a trading volume of 895,660 shares, compared to its average volume of 1,481,436. Cintas has a 1-year low of $118.68 and a 1-year high of $211.56. The company has a market cap of $21.25 billion, a P/E ratio of 14.50, a PEG ratio of 4.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The firm’s 50-day moving average is $208.28 and its two-hundred day moving average is $183.50.

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

Cintas announced that its board has initiated a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.10% of the company’s stock.

Hedge Funds Weigh In On Cintas

A number of hedge funds and other institutional investors have recently made changes to their positions in CTAS. Vantage Financial Partners LLC purchased a new stake in shares of Cintas during the fourth quarter valued at $1,029,000. Aveo Capital Partners LLC raised its stake in shares of Cintas by 4.0% in the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after buying an additional 44 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Cintas by 8.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock worth $3,797,000 after buying an additional 502 shares during the period. Advisory Services Network LLC raised its stake in shares of Cintas by 11.6% in the fourth quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock worth $671,000 after buying an additional 116 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Cintas during the fourth quarter worth about $1,471,000. Institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

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.