Cintas (NASDAQ:CTAS) PT Raised to $245.00 at Barclays

Cintas (NASDAQ:CTAS) had its target price boosted by analysts at Barclays from $210.00 to $245.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Barclays‘s price target would indicate a potential upside of 21.08% from the stock’s previous close.

A number of other brokerages have also commented on CTAS. Robert W. Baird boosted their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Truist Financial boosted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Down 2.3 %

Shares of NASDAQ:CTAS opened at $202.35 on Friday. The business’s 50-day moving average is $208.88 and its 200-day moving average is $183.98. Cintas has a 1 year low of $119.69 and a 1 year high of $211.57. The company has a market capitalization of $20.53 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52.

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

Cintas announced that its board has initiated a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.10% of the company’s stock.

Institutional Trading of Cintas

A number of large investors have recently bought and sold shares of CTAS. Vantage Financial Partners LLC bought a new position in shares of Cintas during the 4th quarter worth $1,029,000. Aveo Capital Partners LLC lifted its holdings in Cintas by 4.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock valued at $689,000 after purchasing an additional 44 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Cintas by 8.7% during 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 purchasing an additional 502 shares during the period. Advisory Services Network LLC increased 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 purchasing an additional 116 shares in the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Cintas in the fourth quarter valued at approximately $1,471,000. 63.46% of the stock is 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.