Robert W. Baird Forecasts Strong Price Appreciation for Cintas (NASDAQ:CTAS) Stock

Cintas (NASDAQ:CTAS) had its price target upped by stock analysts at Robert W. Baird from $227.00 to $230.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s price target points to a potential upside of 3.63% from the stock’s previous close.

A number of other analysts have also recently commented on CTAS. Wells Fargo & Company raised shares of Cintas from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They set an “overweight” rating and a $239.00 target price for the company. The Goldman Sachs Group increased their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Argus raised shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $240.00 price objective (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and an average target price of $224.54.

Cintas Trading Up 0.0%

Shares of NASDAQ CTAS opened at $221.94 on Friday. The firm’s 50 day moving average price is $220.99 and its 200-day moving average price is $208.21. The company has a market cap of $89.62 billion, a PE ratio of 50.33, a P/E/G ratio of 3.54 and a beta of 1.05. Cintas has a 52-week low of $180.78 and a 52-week high of $229.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.50 and a current ratio of 2.09.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the company earned $3.99 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Cintas will post 4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cintas

Several institutional investors have recently made changes to their positions in CTAS. Vanguard Group Inc. raised its holdings in shares of Cintas by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider’s stock valued at $7,781,223,000 after purchasing an additional 491,307 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cintas in the 1st quarter valued at about $1,877,760,000. Geode Capital Management LLC raised its holdings in shares of Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after purchasing an additional 219,809 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Cintas by 6.1% in the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock valued at $935,146,000 after purchasing an additional 296,059 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Cintas in the 4th quarter valued at about $877,216,000. 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.