Morgan Stanley Boosts Cintas (NASDAQ:CTAS) Price Target to $172.00

Cintas (NASDAQ:CTAS) had its price target hoisted by Morgan Stanley from $163.00 to $172.00 in a research note issued to investors on Friday, March 22nd, BenzingaRatingsTable reports. The firm currently has an underweight rating on the business services provider’s stock.

A number of other brokerages also recently issued reports on CTAS. JPMorgan Chase & Co. upped their price objective on shares of Cintas from $210.00 to $235.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. BidaskClub downgraded shares of Cintas from a strong-buy rating to a buy rating in a research report on Wednesday, March 6th. Zacks Investment Research downgraded shares of Cintas from a hold rating to a sell rating in a research report on Monday, March 11th. ValuEngine raised shares of Cintas from a hold rating to a buy rating in a research report on Monday, February 4th. Finally, Royal Bank of Canada assumed coverage on shares of Cintas in a research report on Monday, November 26th. They set an outperform rating for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $194.45.

Shares of CTAS traded up $0.83 on Friday, reaching $208.23. The company’s stock had a trading volume of 423,698 shares, compared to its average volume of 497,757. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.24 and a quick ratio of 1.70. Cintas has a twelve month low of $155.98 and a twelve month high of $217.34. The firm has a market capitalization of $21.69 billion, a PE ratio of 35.06, a P/E/G ratio of 2.26 and a beta of 1.08.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, March 21st. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.13. Cintas had a net margin of 12.44% and a return on equity of 25.85%. The business had revenue of $1.68 million during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the firm posted $1.37 EPS. The firm’s quarterly revenue was down 99.9% compared to the same quarter last year. As a group, analysts expect that Cintas will post 7.46 EPS for the current year.

In other Cintas news, VP Thomas E. Frooman sold 1,740 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $201.79, for a total value of $351,114.60. Following the sale, the vice president now directly owns 124,666 shares in the company, valued at approximately $25,156,352.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Lawrence Thompson sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $200.60, for a total transaction of $200,600.00. Following the completion of the sale, the insider now owns 64,165 shares in the company, valued at $12,871,499. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,155 shares of company stock valued at $1,658,496. 19.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of CTAS. Nelson Roberts Investment Advisors LLC purchased a new stake in shares of Cintas during the 4th quarter valued at $25,000. Capital Financial Planning LLC purchased a new stake in shares of Cintas during the 4th quarter valued at $29,000. Washington Trust Bank purchased a new stake in shares of Cintas during the 1st quarter valued at $45,000. Lindbrook Capital LLC purchased a new stake in shares of Cintas during the 4th quarter valued at $105,000. Finally, ETF Managers Group LLC raised its position in shares of Cintas by 18.2% during the 4th quarter. ETF Managers Group LLC now owns 778 shares of the business services provider’s stock valued at $131,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 67.06% of the company’s stock.

About Cintas

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Analyst Recommendations for Cintas (NASDAQ:CTAS)

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