Cintas (NASDAQ:CTAS) Price Target Cut to $184.00 by Analysts at Wells Fargo & Company

Cintas (NASDAQ:CTAS) had its price target dropped by stock analysts at Wells Fargo & Company from $191.00 to $184.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 1.57% from the stock’s previous close.

Other research analysts have also issued reports about the stock. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Barclays increased their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Robert W. Baird decreased their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Cintas has a consensus rating of “Hold” and a consensus target price of $195.90.

Cintas Stock Up 2.3 %

Shares of Cintas stock opened at $186.94 on Friday. The stock has a market capitalization of $75.39 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 4.15 and a beta of 1.33. Cintas has a twelve month low of $142.18 and a twelve month high of $228.12. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The business’s 50 day simple moving average is $214.31 and its 200-day simple moving average is $203.21.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company earned $3.61 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts forecast that Cintas will post 4.23 earnings per share for the current year.

Institutional Investors Weigh In On Cintas

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in shares of Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC raised its holdings in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the period. Geode Capital Management LLC raised its holdings in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after acquiring an additional 1,904,926 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

About Cintas

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.