Jefferies Financial Group Cuts Cintas (NASDAQ:CTAS) Price Target to $200.00

Cintas (NASDAQ:CTAS) had its price target dropped by research analysts at Jefferies Financial Group from $730.00 to $200.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price objective would indicate a potential downside of 1.16% from the stock’s current price.

A number of other research firms have also weighed in on CTAS. Royal Bank of Canada upped their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Stifel Nicolaus increased their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Performance

Shares of CTAS stock opened at $202.35 on Thursday. The stock has a market capitalization of $20.53 billion, a P/E ratio of 13.97, a PEG ratio of 4.09 and a beta of 1.32. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $208.63 and its 200 day moving average is $183.66. Cintas has a 12 month low of $119.69 and a 12 month high of $211.57.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. Cintas’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.70 EPS. On average, sell-side analysts anticipate that Cintas will post 4.16 earnings per share for the current year.

Cintas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the sale, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cintas

Several institutional investors have recently added to or reduced their stakes in CTAS. Los Angeles Capital Management LLC boosted its position in Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after buying an additional 201,955 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Cintas by 711.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 152,516 shares of the business services provider’s stock valued at $91,915,000 after buying an additional 133,713 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Cintas in the 1st quarter worth about $84,646,000. Vanguard Group Inc. lifted its position in shares of Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after purchasing an additional 112,361 shares during the period. Finally, Congress Asset Management Co. MA lifted its position in shares of Cintas by 124.9% in the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock worth $134,318,000 after purchasing an additional 108,582 shares during the period. Hedge funds and other institutional investors 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.