Cintas Corp. (CTAS) Sees Strong Trading Volume
Shares of Cintas Corp. (NASDAQ:CTAS) saw an uptick in trading volume on Thursday . 1,439,765 shares were traded during mid-day trading, an increase of 74% from the previous session’s volume of 828,689 shares.The stock last traded at $107.30 and had previously closed at $106.85.
A number of research firms have recently weighed in on CTAS. Zacks Investment Research raised Cintas Corp. from a “sell” rating to a “hold” rating in a research note on Thursday. Nomura Holdings Inc. reissued a “buy” rating on shares of Cintas Corp. in a research note on Sunday, July 17th. Barclays PLC reissued a “buy” rating on shares of Cintas Corp. in a research note on Thursday, March 24th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $106.00 target price on shares of Cintas Corp. in a research note on Wednesday. Finally, Nomura reissued a “buy” rating and issued a $102.00 target price on shares of Cintas Corp. in a research note on Friday, July 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $95.50.
The firm has a market capitalization of $11.48 billion and a price-to-earnings ratio of 18.16. The company’s 50-day moving average price is $96.62 and its 200-day moving average price is $90.10.
Cintas Corp. (NASDAQ:CTAS) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business earned $0.86 earnings per share. On average, equities research analysts forecast that Cintas Corp. will post $4.41 earnings per share for the current fiscal year.
In other Cintas Corp. news, Director Gerald S. Adolph sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $90.21, for a total transaction of $90,210.00. Following the sale, the director now directly owns 11,590 shares of the company’s stock, valued at $1,045,533.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of large investors have bought and sold shares of the stock. KBC Group NV boosted its stake in Cintas Corp. by 42.9% in the fourth quarter. KBC Group NV now owns 102,485 shares of the company’s stock worth $9,332,000 after buying an additional 30,747 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Cintas Corp. by 157.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 40,781 shares of the company’s stock worth $3,713,000 after buying an additional 24,913 shares in the last quarter. Redwood Investments LLC acquired a new stake in Cintas Corp. during the fourth quarter worth approximately $13,687,000. WBI Investments Inc. boosted its stake in Cintas Corp. by 60.2% in the fourth quarter. WBI Investments Inc. now owns 70,484 shares of the company’s stock worth $6,418,000 after buying an additional 26,482 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in Cintas Corp. by 14.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 16,241 shares of the company’s stock worth $1,479,000 after buying an additional 2,095 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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