Citigroup Has Lowered Expectations for Cintas (NASDAQ:CTAS) Stock Price

Cintas (NASDAQ:CTAS) had its target price dropped by research analysts at Citigroup from $181.00 to $160.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the business services provider’s stock. Citigroup’s target price would suggest a potential downside of 7.00% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings upgraded shares of Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and increased their price target for the stock from $205.00 to $245.00 in a research note on Wednesday, January 14th. Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 price target on shares of Cintas in a report on Friday, December 19th. Morgan Stanley lowered their price objective on Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Finally, Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.17.

Cintas Trading Up 1.7%

Cintas stock opened at $172.04 on Tuesday. Cintas has a 12-month low of $165.60 and a 12-month high of $229.24. The firm has a market capitalization of $68.80 billion, a price-to-earnings ratio of 48.60, a P/E/G ratio of 3.03 and a beta of 1.01. The firm has a 50 day moving average of $191.45 and a 200 day moving average of $190.79. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 earnings per share. As a group, research analysts predict that Cintas will post 4.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Nemes Rush Group LLC purchased a new stake in Cintas during the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new position in shares of Cintas in the 4th quarter worth $25,000. Camelot Portfolios LLC purchased a new position in shares of Cintas in the 4th quarter worth $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cintas in the 4th quarter worth about $26,000. Finally, Key Capital Management INC bought a new stake in shares of Cintas in the 4th quarter worth about $28,000. 63.46% of the stock is currently owned by institutional investors.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.