Cintas Corp. (CTAS) Shares Down 1.7%
Shares of Cintas Corp. (NASDAQ:CTAS) fell 1.7% on Thursday . The company traded as low as $113.14 and last traded at $113.64, with a volume of 275,976 shares trading hands. The stock had previously closed at $115.65.
A number of brokerages recently weighed in on CTAS. Nomura reiterated a “buy” rating and issued a $124.00 price target (up from $107.00) on shares of Cintas Corp. in a research report on Wednesday. KeyCorp increased their price target on shares of Cintas Corp. from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird raised Cintas Corp. from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $111.00 to $140.00 in a research note on Wednesday. Morgan Stanley reissued an “underweight” rating and set a $80.00 target price (up from $75.00) on shares of Cintas Corp. in a research note on Wednesday. Finally, Barclays PLC raised Cintas Corp. from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $130.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $109.50.
The firm has a market capitalization of $11.86 billion and a P/E ratio of 18.23. The firm has a 50-day moving average of $104.99 and a 200 day moving average of $93.64.
Cintas Corp. (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.08. During the same quarter last year, the firm posted $0.86 earnings per share. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. Equities analysts predict that Cintas Corp. will post $4.42 earnings per share for the current fiscal year.
In other news, Director Gerald S. Adolph sold 2,000 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $108.12, for a total transaction of $216,240.00. Following the sale, the director now directly owns 11,590 shares in the company, valued at $1,253,110.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Several institutional investors recently bought and sold shares of CTAS. Wells Fargo & Company MN raised its position in Cintas Corp. by 3.8% in the fourth quarter. Wells Fargo & Company MN now owns 274,885 shares of the company’s stock worth $25,028,000 after buying an additional 10,136 shares in the last quarter. BlackRock Advisors LLC raised its position in Cintas Corp. by 2.2% in the fourth quarter. BlackRock Advisors LLC now owns 260,882 shares of the company’s stock worth $23,753,000 after buying an additional 5,633 shares in the last quarter. Redwood Investments LLC bought a new position in Cintas Corp. during the fourth quarter worth approximately $13,687,000. KBC Group NV raised its position 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. Finally, BNP Paribas Arbitrage SA raised 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 worth $3,713,000 after buying an additional 24,913 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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