Royal Bank of Canada Forecasts Strong Price Appreciation for Cintas (NASDAQ:CTAS) Stock

Cintas (NASDAQ:CTAS - Get Free Report) had its target price boosted by Royal Bank of Canada from $215.00 to $240.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the business services provider's stock. Royal Bank of Canada's price target suggests a potential upside of 6.84% from the company's previous close.

A number of other research analysts have also recently weighed in on the stock. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a report on Thursday, May 1st. Truist Financial increased their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird increased their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They issued a "sell" rating and a $161.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Cintas currently has an average rating of "Hold" and an average target price of $215.81.

Cintas Trading Down 1.3%

Shares of Cintas stock traded down $3.03 on Monday, reaching $224.64. The company had a trading volume of 252,391 shares, compared to its average volume of 1,777,922. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market cap of $90.70 billion, a PE ratio of 54.17, a PEG ratio of 3.98 and a beta of 1.07. The firm's 50 day moving average price is $212.71 and its two-hundred day moving average price is $205.46. Cintas has a 52-week low of $169.46 and a 52-week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.84 earnings per share. Sell-side analysts predict that Cintas will post 4.31 earnings per share for the current fiscal year.

Insider Activity at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Cintas

A number of large investors have recently bought and sold shares of CTAS. Brighton Jones LLC raised its position in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after buying an additional 108 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Cintas by 56.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 10,814 shares of the business services provider's stock valued at $1,976,000 after purchasing an additional 3,898 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Cintas by 29.5% in the 4th quarter. Empowered Funds LLC now owns 24,634 shares of the business services provider's stock valued at $4,501,000 after purchasing an additional 5,606 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Cintas by 4.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 12,137 shares of the business services provider's stock valued at $2,217,000 after purchasing an additional 565 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas in the 4th quarter valued at about $34,000. Hedge funds and other 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.

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