Cintas (NASDAQ:CTAS) Reaches New 1-Year High Following Analyst Upgrade

Shares of Cintas Co. (NASDAQ:CTAS) reached a new 52-week high during trading on Wednesday after Argus raised their price target on the stock from $390.00 to $410.00. Argus currently has a buy rating on the stock. Cintas traded as high as $396.35 and last traded at $390.00, with a volume of 497 shares traded. The stock had previously closed at $389.20.

CTAS has been the topic of several other research reports. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $389.00 to $425.00 in a research report on Friday, July 16th. Morgan Stanley raised their price objective on shares of Cintas from $333.00 to $353.00 and gave the company an “equal weight” rating in a research report on Friday, July 16th. Credit Suisse Group raised their price objective on shares of Cintas from $350.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, July 16th. Barclays raised their price objective on shares of Cintas from $405.00 to $415.00 and gave the company an “overweight” rating in a research report on Friday, July 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Cintas from $387.00 to $411.00 and gave the company a “buy” rating in a research report on Tuesday, June 22nd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $395.44.

Large investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC bought a new position in Cintas during the first quarter worth $27,000. Childress Capital Advisors LLC bought a new position in Cintas during the fourth quarter worth $30,000. Jacobi Capital Management LLC increased its position in Cintas by 136.6% during the first quarter. Jacobi Capital Management LLC now owns 97 shares of the business services provider’s stock worth $33,000 after acquiring an additional 56 shares during the period. Luken Investment Analytics LLC bought a new position in Cintas during the fourth quarter worth $35,000. Finally, CVA Family Office LLC increased its position in Cintas by 71.4% during the first quarter. CVA Family Office LLC now owns 120 shares of the business services provider’s stock worth $41,000 after acquiring an additional 50 shares during the period. 63.04% of the stock is currently owned by institutional investors.

The stock has a 50-day simple moving average of $365.85. The company has a market capitalization of $41.19 billion, a price-to-earnings ratio of 38.30, a P/E/G ratio of 3.71 and a beta of 1.50. The company has a current ratio of 1.47, a quick ratio of 1.22 and a debt-to-equity ratio of 0.45.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, July 14th. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.17. Cintas had a net margin of 15.61% and a return on equity of 30.22%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Cintas’s revenue was up 13.3% compared to the same quarter last year. Analysts expect that Cintas Co. will post 10.69 earnings per share for the current fiscal year.

Cintas Company Profile (NASDAQ:CTAS)

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms.

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