Cintas (NASDAQ:CTAS) Price Target Raised to $240.00

Key Points

• Argus raised its Cintas price target from $230 to $240 and maintained a “buy” rating, implying 19.37% potential upside from the prior close.
• Analyst sentiment remains generally positive, with eight Buy ratings, five Holds and one Sell; the consensus rating is “Moderate Buy” with an average target of $216.
• Cintas exceeded quarterly expectations, reporting $1.39 in EPS versus $1.35 expected and $3.01 billion in revenue versus $2.98 billion expected, with revenue rising 10.9% year over year.

Cintas (NASDAQ:CTAS - Get Free Report) had its price objective upped by investment analysts at Argus from $230.00 to $240.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the business services provider's stock. Argus' price target suggests a potential upside of 19.37% from the company's previous close.

A number of other equities analysts have also recently issued reports on CTAS. The Goldman Sachs Group restated a "buy" rating and issued a $231.00 target price on shares of Cintas in a research note on Wednesday, July 15th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Citigroup reiterated a "sell" rating and issued a $180.00 price target (up from $175.00) on shares of Cintas in a report on Tuesday, September 22nd. Sanford C. Bernstein restated a "market perform" rating on shares of Cintas in a report on Thursday, September 10th. Finally, Bank of America raised Cintas from a "neutral" rating to a "buy" rating and upped their target price for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $216.00.

Cintas Stock Performance

NASDAQ:CTAS opened at $201.06 on Tuesday. The stock has a market cap of $80.56 billion, a P/E ratio of 39.63, a PEG ratio of 3.18 and a beta of 0.91. Cintas has a 1-year low of $161.16 and a 1-year high of $219.16. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $202.17 and a 200 day simple moving average of $185.52.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.04. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Cintas had a return on equity of 42.57% and a net margin of 17.82%.The company's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Research analysts anticipate that Cintas will post 5.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its position in shares of Cintas by 317.3% during the 2nd quarter. QRG Capital Management Inc. now owns 240,253 shares of the business services provider's stock valued at $40,862,000 after acquiring an additional 182,678 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Cintas by 121.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,415 shares of the business services provider's stock worth $4,493,000 after purchasing an additional 14,475 shares during the period. Andra AP fonden raised its holdings in shares of Cintas by 78.6% in the 2nd quarter. Andra AP fonden now owns 140,400 shares of the business services provider's stock worth $23,879,000 after purchasing an additional 61,800 shares during the period. Bullseye Investment Management LLC purchased a new position in Cintas in the second quarter valued at approximately $253,000. Finally, Tidal Investments LLC lifted its stake in Cintas by 16.3% in the second quarter. Tidal Investments LLC now owns 62,579 shares of the business services provider's stock valued at $10,643,000 after purchasing an additional 8,778 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

About Cintas

Cintas Corporation NASDAQ: CTAS provides workplace services to businesses and organizations across North America. The company's primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.

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