Robert W. Baird Issues Positive Forecast for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS - Get Free Report) had its price objective lifted by equities research analysts at Robert W. Baird from $227.00 to $230.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. Robert W. Baird's price objective would indicate a potential upside of 3.63% from the company's previous close.

Several other equities research analysts have also recently commented on CTAS. Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. UBS Group upped their price target on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a report on Thursday, May 1st. Finally, Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Stock Up 0.0%

Shares of CTAS traded up $0.02 during trading on Friday, reaching $221.94. The company's stock had a trading volume of 2,528,220 shares, compared to its average volume of 1,665,913. The company has a market cap of $89.62 billion, a price-to-earnings ratio of 50.33, a P/E/G ratio of 3.54 and a beta of 1.05. Cintas has a twelve month low of $180.78 and a twelve month high of $229.24. The company has a fifty day moving average of $220.99 and a two-hundred day moving average of $208.21. The company has a quick ratio of 1.50, a current ratio of 2.09 and a debt-to-equity ratio of 0.52.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the firm earned $3.99 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts predict that Cintas will post 4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cintas

Several hedge funds have recently made changes to their positions in CTAS. Brighton Jones LLC raised its position in Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after purchasing an additional 108 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Cintas by 0.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after purchasing an additional 3,504 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Cintas in the fourth quarter worth about $295,000. Harbour Investments Inc. raised its position in Cintas by 17.1% in the fourth quarter. Harbour Investments Inc. now owns 492 shares of the business services provider's stock worth $90,000 after purchasing an additional 72 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its position in Cintas by 2.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 144,415 shares of the business services provider's stock worth $26,385,000 after purchasing an additional 3,383 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

About Cintas

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.