Cintas Corp. (CTAS) Trading Down 1.7%
Cintas Corp. (NASDAQ:CTAS) traded down 1.7% on Thursday . The stock traded as low as $113.14 and last traded at $113.64, with a volume of 275,976 shares changing hands. The stock had previously closed at $115.65.
Several equities research analysts recently weighed in on the company. Nomura reissued a “buy” rating and set a $124.00 price objective (up previously from $107.00) on shares of Cintas Corp. in a report on Wednesday. KeyCorp raised their price objective on Cintas Corp. from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday. Robert W. Baird raised Cintas Corp. from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $111.00 to $140.00 in a report on Wednesday. Barclays PLC raised Cintas Corp. from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $130.00 in a report on Wednesday. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 target price (up from $75.00) on shares of Cintas Corp. in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $109.50.
The stock’s 50-day moving average price is $104.02 and its 200 day moving average price is $93.30. The firm has a market cap of $11.87 billion and a P/E ratio of 18.25.
Cintas Corp. (NASDAQ:CTAS) last released its 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. During the same period in the prior year, the company earned $0.86 EPS. The firm earned $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. On average, analysts predict that Cintas Corp. will post $4.42 earnings per share for the current fiscal year.
In related news, Director Gerald S. Adolph sold 2,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $108.12, for a total value of $216,240.00. Following the transaction, the director now owns 11,590 shares of the company’s stock, valued at $1,253,110.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its position in Cintas Corp. by 0.3% in the fourth quarter. Advisors Asset Management Inc. now owns 17,264 shares of the company’s stock worth $1,572,000 after buying an additional 55 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of Cintas Corp. by 1.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 12,384 shares of the company’s stock worth $1,128,000 after buying an additional 230 shares during the period. Aberdeen Asset Management PLC UK boosted its position in shares of Cintas Corp. by 19.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 18,326 shares of the company’s stock worth $1,693,000 after buying an additional 2,967 shares during the period. BlackRock Advisors LLC boosted its position in shares of 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 during the period. Finally, Wells Fargo & Company MN boosted its position in shares of 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 during the period.
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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