JPMorgan Chase & Co. Initiates Coverage on Cintas (NASDAQ:CTAS)

Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of Cintas (NASDAQ:CTAS - Get Free Report) in a report issued on Monday, Marketbeat Ratings reports. The brokerage set an "overweight" rating and a $239.00 price target on the business services provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 10.10% from the stock's current price.

Other analysts have also issued reports about the stock. Truist Financial upped their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 price objective (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research report on Thursday, May 1st. Finally, Morgan Stanley increased their price target on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $220.96.

Cintas Stock Up 0.8%

NASDAQ:CTAS traded up $1.63 during mid-day trading on Monday, reaching $217.07. The company's stock had a trading volume of 114,209 shares, compared to its average volume of 1,716,904. Cintas has a 1 year low of $178.42 and a 1 year high of $229.24. The stock has a fifty day moving average of $220.63 and a 200-day moving average of $207.18. The firm has a market capitalization of $87.65 billion, a PE ratio of 50.28, a price-to-earnings-growth ratio of 3.36 and a beta of 1.05. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On Cintas

A number of institutional investors have recently bought and sold shares of the business. Annex Advisory Services LLC raised its position in Cintas by 8.1% during the 2nd quarter. Annex Advisory Services LLC now owns 102,290 shares of the business services provider's stock worth $22,797,000 after buying an additional 7,651 shares during the last quarter. Quantum Financial Advisors LLC purchased a new position in Cintas during the 2nd quarter worth approximately $212,000. Oak Asset Management LLC grew its stake in shares of Cintas by 3.9% during the 2nd quarter. Oak Asset Management LLC now owns 9,315 shares of the business services provider's stock worth $2,076,000 after purchasing an additional 349 shares during the period. Kaufman Rossin Wealth LLC acquired a new stake in shares of Cintas during the 2nd quarter worth approximately $265,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Cintas by 12.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,927 shares of the business services provider's stock worth $1,767,000 after purchasing an additional 896 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

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.