Cintas (NASDAQ:CTAS) had its target price lifted by analysts at Bank of America from $261.00 to $287.00 in a note issued to investors on Tuesday, Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Bank of America‘s price objective points to a potential upside of 8.23% from the company’s previous close.
A number of other analysts have also recently commented on the company. Barclays restated a “buy” rating and issued a $265.00 price objective on shares of Cintas in a research report on Thursday, July 18th. Nomura lifted their price target on Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. William Blair reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, June 20th. BidaskClub raised Cintas from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Morgan Stanley lifted their price target on Cintas from $184.00 to $202.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $241.44.
CTAS stock traded up $3.79 during trading on Tuesday, hitting $265.19. 126,326 shares of the company traded hands, compared to its average volume of 673,446. The stock’s 50-day moving average is $250.25. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $27.00 billion, a P/E ratio of 34.89, a PEG ratio of 3.06 and a beta of 0.99. Cintas has a 1 year low of $155.98 and a 1 year high of $266.56.
In other Cintas news, VP Thomas E. Frooman sold 5,373 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total transaction of $1,401,224.67. Following the transaction, the vice president now owns 127,624 shares of the company’s stock, valued at $33,283,062.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Lawrence Thompson sold 4,888 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,274,741.52. Following the transaction, the insider now directly owns 69,053 shares in the company, valued at approximately $18,008,331.87. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC acquired a new position in Cintas during the second quarter worth $25,000. Financial Gravity Wealth Inc. acquired a new position in shares of Cintas in the 1st quarter valued at $36,000. Coastal Investment Advisors Inc. acquired a new position in shares of Cintas in the 2nd quarter valued at $36,000. CWM LLC lifted its stake in shares of Cintas by 52.4% in the 1st quarter. CWM LLC now owns 192 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 66 shares during the last quarter. Finally, Sonora Investment Management LLC acquired a new position in shares of Cintas in the 2nd quarter valued at $42,000. 68.31% of the stock is currently owned by institutional investors.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, and carpet and tile cleaning services, as well as sells uniforms directly.
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