Cintas Corp. (CTAS) Reaches New 1-Year High at $119.94
Cintas Corp. (NASDAQ:CTAS) hit a new 52-week high on Tuesday . The stock traded as high as $119.94 and last traded at $118.47, with a volume of 231,366 shares. The stock had previously closed at $118.84.
Several equities research analysts recently weighed in on CTAS shares. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target (up from $75.00) on shares of Cintas Corp. in a report on Wednesday, August 17th. KeyCorp increased their price target on Cintas Corp. from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. Zacks Investment Research downgraded Cintas Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Nomura reaffirmed a “buy” rating and set a $135.00 price target (up from $124.00) on shares of Cintas Corp. in a report on Thursday, August 25th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $106.00 target price (up previously from $95.00) on shares of Cintas Corp. in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $112.36.
The firm’s 50-day moving average price is $109.72 and its 200 day moving average price is $95.88. The stock has a market capitalization of $12.37 billion and a price-to-earnings ratio of 19.01.
Cintas Corp. (NASDAQ:CTAS) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. During the same quarter last year, the firm posted $0.86 earnings per share. The firm earned $1.27 billion during the quarter, compared to the consensus estimate of $1.25 billion. On average, equities analysts forecast that Cintas Corp. will post $4.42 EPS for the current year.
In other news, Director Gerald S. Adolph sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 11,590 shares in the company, valued at approximately $1,253,110.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake in Cintas Corp. stock. BNP Paribas Arbitrage SA increased its position in Cintas Corp. (NASDAQ:CTAS) by 157.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,781 shares of the company’s stock after buying an additional 24,913 shares during the period. BNP Paribas Arbitrage SA’s holdings in Cintas Corp. were worth $3,713,000 as of its most recent filing with the SEC.
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.