Royal Bank of Canada Raises Cintas (NASDAQ:CTAS) Price Target to $267.00
Cintas (NASDAQ:CTAS) had its price objective raised by Royal Bank of Canada to $267.00 in a research note published on Wednesday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.
Several other analysts have also commented on the stock. Credit Suisse Group set a GBX 3,090 ($40.38) price objective on shares of Royal Dutch Shell and gave the stock a buy rating in a report on Wednesday. BidaskClub lowered shares of Xperi from a sell rating to a strong sell rating in a report on Wednesday, June 19th. William Blair restated an outperform rating on shares of American Software in a report on Thursday, June 20th. Zacks Investment Research lowered shares of G1 Therapeutics from a buy rating to a hold rating in a report on Thursday, May 16th. Finally, Morgan Stanley raised their price objective on shares of WPP from GBX 1,025 ($13.39) to GBX 1,060 ($13.85) and gave the stock an equal weight rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Cintas presently has an average rating of Buy and an average price target of $217.25.
Shares of CTAS opened at $257.85 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 1.98 and a debt-to-equity ratio of 0.85. Cintas has a one year low of $155.98 and a one year high of $263.82. The business has a 50-day moving average of $236.31. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 3.03 and a beta of 0.99.
In other news, Director Joseph Scaminace sold 6,255 shares of Cintas stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the completion of the transaction, the director now directly owns 7,973 shares in the company, valued at $1,771,600.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CTAS. Norges Bank purchased a new position in Cintas in the 4th quarter worth approximately $140,888,000. American Century Companies Inc. raised its holdings in Cintas by 97.6% in the 4th quarter. American Century Companies Inc. now owns 1,172,508 shares of the business services provider’s stock worth $196,970,000 after acquiring an additional 579,155 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Cintas by 336.6% in the 1st quarter. OppenheimerFunds Inc. now owns 653,407 shares of the business services provider’s stock worth $132,061,000 after acquiring an additional 503,747 shares during the last quarter. FMR LLC raised its holdings in Cintas by 21.2% in the 1st quarter. FMR LLC now owns 2,722,998 shares of the business services provider’s stock worth $550,345,000 after acquiring an additional 475,757 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in Cintas by 145.6% in the 1st quarter. Neuberger Berman Group LLC now owns 409,863 shares of the business services provider’s stock worth $82,837,000 after acquiring an additional 242,991 shares during the last quarter. Institutional investors own 67.05% of the company’s stock.
Cintas Company Profile
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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