Cintas (CTAS) Given New $163.00 Price Target at Morgan Stanley

Cintas (NASDAQ:CTAS) had its target price decreased by Morgan Stanley from $167.00 to $163.00 in a report published on Tuesday morning. Morgan Stanley currently has an underweight rating on the business services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Bank of America initiated coverage on Cintas in a research report on Tuesday, October 23rd. They set a neutral rating and a $200.00 price objective on the stock. Northcoast Research reissued a neutral rating on shares of Cintas in a report on Friday, December 21st. Robert W. Baird lowered their price target on Cintas from $235.00 to $201.00 and set an outperform rating for the company in a report on Friday, December 21st. BidaskClub downgraded Cintas from a strong-buy rating to a buy rating in a report on Wednesday, December 5th. Finally, Credit Suisse Group lowered their price target on Cintas from $205.00 to $160.00 and set a neutral rating for the company in a report on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $190.77.

Shares of CTAS stock opened at $177.79 on Tuesday. Cintas has a 1-year low of $147.38 and a 1-year high of $217.34. The stock has a market cap of $18.43 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.70 and a current ratio of 1.99.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, December 20th. The business services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.04. Cintas had a return on equity of 24.87% and a net margin of 14.10%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Cintas will post 7.35 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Global X Management Co LLC lifted its holdings in shares of Cintas by 23.3% during the second quarter. Global X Management Co LLC now owns 2,894 shares of the business services provider’s stock worth $536,000 after purchasing an additional 546 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Cintas by 105.2% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,375 shares of the business services provider’s stock worth $254,000 after purchasing an additional 705 shares during the period. Pensionfund Sabic acquired a new stake in shares of Cintas during the third quarter worth about $1,721,000. Zurich Insurance Group Ltd FI lifted its holdings in shares of Cintas by 56.4% during the second quarter. Zurich Insurance Group Ltd FI now owns 30,080 shares of the business services provider’s stock worth $5,567,000 after purchasing an additional 10,847 shares during the period. Finally, K.J. Harrison & Partners Inc acquired a new stake in shares of Cintas during the third quarter worth about $989,000. 65.95% of the stock is owned by institutional investors and hedge funds.

Cintas Company Profile

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 directly.

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Analyst Recommendations for Cintas (NASDAQ:CTAS)

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