Cintas (NASDAQ:CTAS) had its price target increased by analysts at Morgan Stanley from $130.00 to $151.00 in a research note issued to investors on Wednesday. The brokerage currently has an “underweight” rating on the business services provider’s stock. Morgan Stanley’s price target indicates a potential downside of 10.36% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Cintas from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a research report on Tuesday, December 19th. Robert W. Baird reaffirmed an “outperform” rating and issued a $185.00 price target (up previously from $165.00) on shares of Cintas in a report on Friday, December 22nd. William Blair reaffirmed a “buy” rating on shares of Cintas in a report on Tuesday, December 26th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $145.00 price target on shares of Cintas in a report on Monday, November 20th. Finally, BidaskClub raised Cintas from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $155.91.
Cintas (CTAS) traded up $2.63 during midday trading on Wednesday, hitting $168.45. The company had a trading volume of 1,032,524 shares, compared to its average volume of 539,071. Cintas has a fifty-two week low of $113.79 and a fifty-two week high of $169.96. The company has a quick ratio of 1.53, a current ratio of 1.77 and a debt-to-equity ratio of 0.99. The firm has a market cap of $17,677.14, a PE ratio of 33.56, a PEG ratio of 2.54 and a beta of 0.87.
In other news, insider James Phillip Holloman sold 12,386 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $160.92, for a total value of $1,993,155.12. Following the sale, the insider now directly owns 141,328 shares in the company, valued at approximately $22,742,501.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 18.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cintas by 4.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,607 shares of the business services provider’s stock valued at $3,055,000 after purchasing an additional 821 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cintas by 61.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 941 shares of the business services provider’s stock valued at $147,000 after purchasing an additional 357 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of Cintas by 11.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 10,939 shares of the business services provider’s stock valued at $1,705,000 after purchasing an additional 1,116 shares during the period. Congress Asset Management Co. MA grew its stake in shares of Cintas by 3.3% in the 4th quarter. Congress Asset Management Co. MA now owns 992,320 shares of the business services provider’s stock valued at $154,633,000 after purchasing an additional 32,155 shares during the period. Finally, LMR Partners LLP grew its stake in shares of Cintas by 193.8% in the 4th quarter. LMR Partners LLP now owns 9,932 shares of the business services provider’s stock valued at $1,548,000 after purchasing an additional 6,552 shares during the period. Institutional investors own 66.65% of the company’s stock.
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About Cintas
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
