Cintas Corporation (NASDAQ:CTAS) shares saw an uptick in trading volume on Monday after Stifel Nicolaus raised their price target on the stock from $123.00 to $136.00. Stifel Nicolaus currently has a hold rating on the stock. 483,697 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 461,013 shares.The stock last traded at $136.94 and had previously closed at $138.43.
A number of other equities analysts also recently weighed in on CTAS. Zacks Investment Research raised shares of Cintas Corporation from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a research note on Monday, July 10th. Robert W. Baird reiterated an “outperform” rating and issued a $143.00 price objective (up from $135.00) on shares of Cintas Corporation in a report on Thursday, March 23rd. Piper Jaffray Companies upped their price objective on shares of Cintas Corporation from $117.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday, March 23rd. Barclays PLC upped their price objective on shares of Cintas Corporation from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 23rd. Finally, Deutsche Bank AG upped their price objective on shares of Cintas Corporation from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, March 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $133.42.
In other Cintas Corporation news, Director Gerald S. Adolph sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total transaction of $267,380.00. Following the completion of the sale, the director now directly owns 13,135 shares in the company, valued at $1,756,018.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO J. Michael Hansen sold 800 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $130.75, for a total transaction of $104,600.00. Following the sale, the chief financial officer now owns 54,370 shares of the company’s stock, valued at $7,108,877.50. The disclosure for this sale can be found here. 19.10% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in Cintas Corporation by 19.4% in the first quarter. Parallel Advisors LLC now owns 862 shares of the business services provider’s stock worth $104,000 after buying an additional 140 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in shares of Cintas Corporation during the second quarter worth approximately $120,000. YorkBridge Wealth Partners LLC raised its position in shares of Cintas Corporation by 11.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,023 shares of the business services provider’s stock worth $125,000 after buying an additional 106 shares in the last quarter. QS Investors LLC raised its position in shares of Cintas Corporation by 1.0% in the second quarter. QS Investors LLC now owns 995 shares of the business services provider’s stock worth $125,000 after buying an additional 10 shares in the last quarter. Finally, First Personal Financial Services raised its position in shares of Cintas Corporation by 0.8% in the second quarter. First Personal Financial Services now owns 1,147 shares of the business services provider’s stock worth $145,000 after buying an additional 9 shares in the last quarter. Institutional investors own 67.55% of the company’s stock.
The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 30.23 and a beta of 0.84. The company’s 50-day moving average price is $131.07 and its 200 day moving average price is $124.61.
Cintas Corporation (NASDAQ:CTAS) last announced 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 net margin of 8.90% and a return on equity of 23.38%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business earned $1.08 EPS. The business’s revenue was up 23.1% on a year-over-year basis. On average, equities research analysts forecast that Cintas Corporation will post $5.23 EPS for the current fiscal 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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