Cintas (NASDAQ:CTAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $179.00 price objective on the business services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.51% from the company’s current price.

According to Zacks, “Cintas aims to continually achieve revenue build-up by increasing penetration levels at existing customers and broadening the customer base. In addition, the successful integration of G&K Services is likely to expand Cintas’ customer profile and augment its revenues. The combined company is likely to cater to over one billion business customers with an extended product portfolio and additional processing capacity. Moreover, Cintas has a strong balance sheet with adequate liquidity to meet its working capital requirements. The company’s investment strategy takes a holistic view of the rapidly evolving market and deploys a dynamic capital allocation approach to focus on the relative value of the various sectors within the broader industry. Cintas has also outperformed the industry year to date. However, volatility in raw material prices and third-party supply constraints remain potential headwinds for the company.”

CTAS has been the topic of several other research reports. Robert W. Baird set a $152.00 price target on shares of Cintas and gave the stock a “buy” rating in a research note on Thursday, August 24th. BidaskClub upgraded shares of Cintas from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Stifel Nicolaus reiterated a “hold” rating and issued a $138.00 price target (up previously from $136.00) on shares of Cintas in a research note on Wednesday, September 27th. Royal Bank of Canada reiterated a “hold” rating and issued a $145.00 price target on shares of Cintas in a research note on Monday, November 20th. Finally, Oppenheimer reiterated a “hold” rating on shares of Cintas in a research note on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Cintas currently has an average rating of “Hold” and an average price target of $148.70.

Cintas (NASDAQ CTAS) opened at $159.09 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.57 and a current ratio of 1.84. Cintas has a one year low of $112.96 and a one year high of $161.00. The firm has a market cap of $16,901.34, a price-to-earnings ratio of 32.31, a P/E/G ratio of 2.47 and a beta of 0.88.

Cintas (NASDAQ:CTAS) last released its earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.18. Cintas had a net margin of 9.79% and a return on equity of 23.71%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the company earned $1.26 EPS. Cintas’s revenue for the quarter was up 27.2% on a year-over-year basis. research analysts expect that Cintas will post 5.36 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. QS Investors LLC raised its position in shares of Cintas by 1.0% during the 2nd quarter. QS Investors LLC now owns 995 shares of the business services provider’s stock valued at $125,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Cintas by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 4,043 shares of the business services provider’s stock valued at $510,000 after buying an additional 11 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Cintas by 0.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,574 shares of the business services provider’s stock valued at $198,000 after buying an additional 12 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Cintas by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,416 shares of the business services provider’s stock valued at $809,000 after buying an additional 27 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its position in shares of Cintas by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,056 shares of the business services provider’s stock valued at $133,000 after buying an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 66.75% of the company’s stock.

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About Cintas

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.

Analyst Recommendations for Cintas (NASDAQ:CTAS)

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