ValuEngine upgraded shares of Cintas (NASDAQ:CTAS) from a hold rating to a buy rating in a research note issued to investors on Wednesday, May 2nd.
CTAS has been the topic of a number of other research reports. BidaskClub raised shares of Cintas from a buy rating to a strong-buy rating in a report on Thursday, February 22nd. Zacks Investment Research lowered shares of Cintas from a buy rating to a hold rating in a report on Tuesday, April 3rd. Stifel Nicolaus raised their price target on shares of Cintas from $145.00 to $162.00 and gave the stock a hold rating in a report on Friday, March 23rd. Morgan Stanley raised their price target on shares of Cintas from $151.00 to $152.00 and gave the stock an underweight rating in a report on Friday, March 23rd. Finally, JPMorgan Chase raised their price target on shares of Cintas from $183.00 to $188.00 and gave the stock an overweight rating in a report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Cintas presently has a consensus rating of Buy and a consensus price target of $168.55.
Cintas traded down $1.00, reaching $182.15, during trading hours on Wednesday, MarketBeat Ratings reports. The stock had a trading volume of 293,770 shares, compared to its average volume of 543,210. The firm has a market cap of $19.56 billion, a PE ratio of 40.21, a price-to-earnings-growth ratio of 2.62 and a beta of 0.90. Cintas has a 52 week low of $182.10 and a 52 week high of $183.12. The company has a quick ratio of 1.86, a current ratio of 2.16 and a debt-to-equity ratio of 0.88.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, March 22nd. The business services provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.10. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Cintas had a net margin of 11.69% and a return on equity of 22.86%. The company’s revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 EPS. sell-side analysts expect that Cintas will post 5.83 earnings per share for the current fiscal year.
In related news, VP Thomas E. Frooman sold 11,500 shares of Cintas stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $175.96, for a total transaction of $2,023,540.00. Following the completion of the transaction, the vice president now directly owns 106,926 shares of the company’s stock, valued at approximately $18,814,698.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James Phillip Holloman sold 7,523 shares of Cintas stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $171.26, for a total transaction of $1,288,388.98. Following the transaction, the insider now directly owns 133,491 shares of the company’s stock, valued at $22,861,668.66. The disclosure for this sale can be found here. Insiders own 18.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Highbridge Capital Management LLC purchased a new position in Cintas during the 1st quarter valued at about $1,039,000. Baxter Bros Inc. purchased a new position in Cintas during the 1st quarter valued at about $212,000. Select Equity Group L.P. lifted its position in Cintas by 589.5% during the 1st quarter. Select Equity Group L.P. now owns 423,725 shares of the business services provider’s stock valued at $72,279,000 after acquiring an additional 362,272 shares during the period. Syntal Capital Partners LLC purchased a new position in Cintas during the 1st quarter valued at about $1,958,000. Finally, Verition Fund Management LLC purchased a new position in Cintas during the 1st quarter valued at about $1,925,000. 66.34% of the stock is owned by institutional investors.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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