Cintas Corp. (NASDAQ:CTAS)’s share price dropped 1.8% during mid-day trading on Monday . The company traded as low as $97.52 and last traded at $97.82, with a volume of 422,422 shares traded. The stock had previously closed at $99.63.

CTAS has been the topic of a number of recent research reports. Nomura Holdings Inc. assumed coverage on Cintas Corp. in a research report on Tuesday, April 19th. They set a “buy” rating and a $102.00 price target on the stock. Sterne Agee CRT assumed coverage on Cintas Corp. in a research note on Monday, March 21st. They set a “neutral” rating and a $91.00 price objective for the company. Barclays PLC restated a “buy” rating on shares of Cintas Corp. in a research note on Thursday, March 24th. Zacks Investment Research cut Cintas Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 15th. Finally, KeyCorp upgraded Cintas Corp. from a “sector weight” rating to an “overweight” rating and set a $106.00 price objective for the company in a research note on Wednesday, April 13th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $93.56.

The firm has a market capitalization of $10.44 billion and a P/E ratio of 16.52. The company’s 50 day moving average price is $95.47 and its 200-day moving average price is $89.63.

In related news, Director Gerald S. Adolph sold 1,000 shares of the business’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $90.21, for a total transaction of $90,210.00. Following the completion of the transaction, the director now directly owns 11,590 shares of the company’s stock, valued at approximately $1,045,533.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James Phillip Holloman sold 19,376 shares of the business’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $90.49, for a total value of $1,753,334.24. Following the transaction, the chief operating officer now directly owns 105,408 shares of the company’s stock, valued at $9,538,369.92. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in Cintas Corp. by 157.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 40,781 shares of the company’s stock valued at $3,713,000 after buying an additional 24,913 shares during the last quarter. Redwood Investments LLC acquired a new position in Cintas Corp. during the fourth quarter valued at about $13,687,000. WBI Investments Inc. boosted its position in Cintas Corp. by 60.2% in the fourth quarter. WBI Investments Inc. now owns 70,484 shares of the company’s stock valued at $6,418,000 after buying an additional 26,482 shares in the last quarter. Pittenger & Anderson Inc. boosted its position in Cintas Corp. by 14.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 16,241 shares of the company’s stock valued at $1,479,000 after buying an additional 2,095 shares in the last quarter. Finally, US Bancorp DE boosted its position in Cintas Corp. by 2.4% in the fourth quarter. US Bancorp DE now owns 76,231 shares of the company’s stock valued at $6,941,000 after buying an additional 1,782 shares in the last quarter.

Cintas Corporation provides products and services to businesses of all types. The Company 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, and first aid, safety and fire protection products and services.

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