Morgan Stanley Boosts Cintas (NASDAQ:CTAS) Price Target to $213.00

Cintas (NASDAQ:CTAS) had its price target upped by Morgan Stanley from $195.00 to $213.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 2.91% from the company’s current price.

Several other research analysts also recently commented on CTAS. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday. Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $207.57.

Cintas Price Performance

NASDAQ:CTAS traded up $2.27 during trading hours on Thursday, reaching $206.98. 781,597 shares of the company were exchanged, compared to its average volume of 1,540,351. The business has a 50 day moving average of $200.75 and a 200 day moving average of $208.89. Cintas has a 1-year low of $162.16 and a 1-year high of $228.12. 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 company has a market capitalization of $83.52 billion, a P/E ratio of 49.96, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Cintas’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.84 EPS. Research analysts forecast that Cintas will post 4.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. DSG Capital Advisors LLC bought a new stake in shares of Cintas in the 4th quarter valued at $958,000. 111 Capital acquired a new position in Cintas in the fourth quarter valued at $4,653,000. Smith Shellnut Wilson LLC ADV boosted its position in Cintas by 8.2% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 5,768 shares of the business services provider’s stock valued at $1,054,000 after acquiring an additional 436 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Cintas during the 4th quarter worth about $69,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Cintas in the 4th quarter worth about $66,909,000. Institutional investors 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.