Cintas (NASDAQ:CTAS) Coverage Initiated at Citigroup

Citigroup started coverage on shares of Cintas (NASDAQ:CTAS) in a research report issued on Monday. The firm set a “sell” rating and a $161.00 price target on the business services provider’s stock. Citigroup’s target price would suggest a potential downside of 21.24% from the stock’s current price.

A number of other equities research analysts also recently issued reports on CTAS. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Truist Financial reduced their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Robert W. Baird reduced their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Morgan Stanley increased their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company reduced their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

Shares of Cintas stock opened at $204.43 on Monday. The stock’s 50-day simple moving average is $196.53 and its 200-day simple moving average is $208.39. Cintas has a 52 week low of $154.15 and a 52 week high of $228.12. The company has a market capitalization of $82.50 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 3.98 and a beta of 1.38. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business posted $3.61 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts expect that Cintas will post 4.31 earnings per share for the current fiscal year.

Institutional Trading of Cintas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. boosted its position in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Hollencrest Capital Management boosted its position in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 104 shares in the last quarter. Addison Advisors LLC boosted its position in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Cintas in the 4th quarter worth $27,000. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Cintas by 321.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider’s stock worth $33,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

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.