Shares of Cintas Corporation (NASDAQ:CTAS) hit a new 52-week high during mid-day trading on Friday after Deutsche Bank AG raised their price target on the stock from $125.00 to $130.00. Deutsche Bank AG currently has a hold rating on the stock. Cintas Corporation traded as high as $136.24 and last traded at $136.34, with a volume of 1,444,337 shares trading hands. The stock had previously closed at $126.78.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Cintas Corporation from a “hold” rating to a “buy” rating and set a $141.00 price objective on the stock in a research note on Monday, July 10th. Stifel Nicolaus increased their price objective on Cintas Corporation from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Friday. Nomura cut Cintas Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 28th. Instinet cut Cintas Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $142.00 to $130.00 in a research note on Tuesday, June 27th. Finally, Piper Jaffray Companies increased their price objective on Cintas Corporation from $117.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, March 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $130.92.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Cintas Corporation by 1,737.2% in the first quarter. BlackRock Inc. now owns 6,465,344 shares of the business services provider’s stock valued at $818,121,000 after buying an additional 6,113,425 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Cintas Corporation during the first quarter valued at about $57,378,000. Marshall Wace North America L.P. purchased a new position in shares of Cintas Corporation during the first quarter valued at about $57,378,000. Artisan Partners Limited Partnership raised its position in shares of Cintas Corporation by 34.4% in the first quarter. Artisan Partners Limited Partnership now owns 1,304,321 shares of the business services provider’s stock valued at $165,049,000 after buying an additional 333,957 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Cintas Corporation by 128.7% in the first quarter. Morgan Stanley now owns 535,838 shares of the business services provider’s stock valued at $67,804,000 after buying an additional 301,551 shares during the last quarter. 68.61% of the stock is currently owned by hedge funds and other institutional investors.
The stock has a market cap of $14.58 billion, a P/E ratio of 28.71 and a beta of 0.83. The stock has a 50-day moving average of $126.83 and a 200 day moving average of $121.86.
Cintas Corporation (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, July 20th. The business services provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by $0.30. Cintas Corporation had a return on equity of 24.06% and a net margin of 8.90%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, equities research analysts forecast that Cintas Corporation will post $4.90 EPS for the current year.
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About Cintas Corporation
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.
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