Morgan Stanley Forecasts Strong Price Appreciation for Cintas (NASDAQ:CTAS) Stock

Cintas (NASDAQ:CTAS) had its price objective hoisted by stock analysts at Morgan Stanley from $195.00 to $213.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 2.91% from the company’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday. The Goldman Sachs Group cut their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Citigroup started coverage on shares of Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price for the company. Finally, UBS Group raised their price target on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $207.57.

Cintas Stock Up 1.1 %

NASDAQ:CTAS traded up $2.27 during trading hours on Thursday, hitting $206.98. 781,597 shares of the company’s stock traded hands, compared to its average volume of 1,540,351. Cintas has a twelve month low of $162.16 and a twelve month high of $228.12. The firm has a market cap of $83.52 billion, a P/E ratio of 49.96, a P/E/G ratio of 3.98 and a beta of 1.41. 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 stock’s fifty day moving average price is $200.75 and its two-hundred day moving average price is $208.89.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm posted $3.84 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Cintas will post 4.31 earnings per share for the current fiscal year.

Institutional Trading of Cintas

Institutional investors and hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its stake in Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after acquiring an additional 1,450 shares during the period. KMG Fiduciary Partners LLC raised its position in shares of Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after purchasing an additional 6,341 shares during the period. Wellington Management Group LLP raised its position in shares of Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in shares of Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after buying an additional 1,988 shares during the period. 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.