Truist Financial Issues Pessimistic Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its price target decreased by equities research analysts at Truist Financial from $255.00 to $225.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price indicates a potential upside of 27.64% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Citigroup decreased their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target on the stock. UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Stifel Nicolaus decreased their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $215.92.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $176.28 on Monday. The stock has a market capitalization of $70.53 billion, a PE ratio of 49.80, a P/E/G ratio of 2.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The business has a fifty day moving average price of $173.55 and a two-hundred day moving average price of $184.30. Cintas has a fifty-two week low of $161.16 and a fifty-two week high of $226.75.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 EPS. As a group, equities analysts predict that Cintas will post 4.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 14.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cintas

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Cintas by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after acquiring an additional 564,487 shares during the last quarter. State Street Corp grew its position in Cintas by 1.4% during the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after acquiring an additional 210,477 shares during the last quarter. Geode Capital Management LLC grew its position in Cintas by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after acquiring an additional 97,220 shares during the last quarter. Norges Bank bought a new stake in shares of Cintas in the 4th quarter valued at about $923,672,000. Finally, Morgan Stanley grew its position in shares of Cintas by 0.8% in the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock valued at $826,214,000 after buying an additional 36,666 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.