Royal Bank of Canada Reiterates Sector Perform Rating for Cintas (NASDAQ:CTAS)

Cintas (NASDAQ:CTAS - Get Free Report)'s stock had its "sector perform" rating reiterated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $215.00 target price on the business services provider's stock. Royal Bank of Canada's price objective would indicate a potential upside of 5.28% from the stock's previous close.

CTAS has been the subject of several other research reports. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday. UBS Group lowered their price target on shares of Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a report on Friday, December 20th. Truist Financial reduced their price objective on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Finally, Citigroup began coverage on Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $210.58.

Cintas Stock Performance

Shares of CTAS stock traded up $0.99 during mid-day trading on Thursday, reaching $204.21. 615,347 shares of the company's stock traded hands, compared to its average volume of 1,771,084. Cintas has a 12 month low of $162.16 and a 12 month high of $228.12. The firm has a 50 day moving average price of $201.01 and a two-hundred day moving average price of $204.62. The firm has a market capitalization of $82.41 billion, a PE ratio of 49.24, a price-to-earnings-growth 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.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (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 business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm posted $3.84 EPS. The company's revenue was up 8.4% on a year-over-year basis. On average, research analysts forecast that Cintas will post 4.31 EPS for the current year.

Institutional Investors Weigh In On Cintas

Large investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC bought a new stake in shares of Cintas during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in Cintas during the 4th quarter worth $29,000. Endeavor Private Wealth Inc. bought a new stake in Cintas during the 4th quarter valued at $31,000. IAG Wealth Partners LLC lifted its holdings in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Cintas during the 4th quarter worth $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

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.