Wells Fargo & Company Increases Cintas (NASDAQ:CTAS) Price Target to $196.00

Cintas (NASDAQ:CTAS) had its price target upped by research analysts at Wells Fargo & Company from $184.00 to $196.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 3.55% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Citigroup assumed coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. UBS Group dropped their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Robert W. Baird reduced their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $210.58.

Cintas Stock Down 1.5 %

CTAS opened at $203.22 on Thursday. The stock’s 50 day moving average price is $201.01 and its 200 day moving average price is $208.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market cap of $82.01 billion, a P/E ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas has a 12 month low of $162.16 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $3.84 earnings per share. As a group, research analysts predict that Cintas will post 4.31 earnings per share for the current year.

Institutional Investors Weigh In On Cintas

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after buying an additional 10,910,285 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cintas by 2.7% in the fourth 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 acquiring an additional 219,809 shares during the last quarter. Invesco Ltd. grew its position in Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after acquiring an additional 296,059 shares in the last quarter. Norges Bank acquired a new position in shares of Cintas during the 4th quarter worth $877,216,000. Finally, Northern Trust Corp raised its holdings in shares of Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider’s stock valued at $743,048,000 after purchasing an additional 472,069 shares in the last quarter. 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.