The Goldman Sachs Group Lowers Cintas (NASDAQ:CTAS) Price Target to $211.00

Cintas (NASDAQ:CTAS) had its price target lowered by investment analysts at The Goldman Sachs Group from $236.00 to $211.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 12.87% from the stock’s previous close.

Several other equities analysts have also issued reports on CTAS. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. UBS Group decreased their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley upped their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial lowered their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday. Finally, Robert W. Baird cut their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $195.90.

Cintas Trading Up 2.3 %

CTAS opened at $186.94 on Friday. The firm has a market capitalization of $75.39 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 4.15 and a beta of 1.33. Cintas has a one year low of $142.18 and a one year high of $228.12. The business has a 50 day simple moving average of $214.31 and a two-hundred day simple moving average of $203.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the business earned $3.61 EPS. Cintas’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Cintas will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CTAS. Wellington Management Group LLP increased its position in Cintas by 211.7% during the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after buying an additional 529,005 shares in the last quarter. Atria Investments Inc raised its stake in Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 16,623 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares during the last quarter. Creative Planning lifted its holdings in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Cintas during the 3rd quarter worth about $23,779,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Company Profile

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.