Cintas Co. (CTAS) Receives Average Rating of “Hold” from Brokerages
Shares of Cintas Co. (NASDAQ:CTAS) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the company. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $128.00.
Several brokerages recently weighed in on CTAS. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Monday, March 20th. Robert W. Baird reissued an “outperform” rating and issued a $143.00 price objective (up previously from $135.00) on shares of Cintas in a research note on Thursday, March 23rd. Barclays PLC boosted their price objective on shares of Cintas from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 23rd. Piper Jaffray Companies boosted their price objective on shares of Cintas from $117.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, March 23rd. Finally, Deutsche Bank AG boosted their price objective on shares of Cintas from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, March 23rd.
Cintas (NASDAQ:CTAS) traded up 0.53% on Tuesday, hitting $122.38. The stock had a trading volume of 117,853 shares. Cintas has a 1-year low of $91.24 and a 1-year high of $128.85. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 25.38 and a beta of 0.87. The company’s 50 day moving average is $122.59 and its 200-day moving average is $118.48.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 22nd. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. Cintas had a net margin of 10.37% and a return on equity of 24.80%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Cintas’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that Cintas will post $4.53 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/05/23/cintas-co-ctas-receives-average-rating-of-hold-from-brokerages.html.
In other news, CFO J. Michael Hansen sold 5,477 shares of Cintas stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $125.72, for a total value of $688,568.44. Following the completion of the sale, the chief financial officer now directly owns 40,974 shares in the company, valued at $5,151,251.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer Paul F. Adler sold 4,030 shares of Cintas stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $122.26, for a total transaction of $492,707.80. Following the completion of the sale, the treasurer now owns 5,529 shares of the company’s stock, valued at $675,975.54. The disclosure for this sale can be found here. Insiders sold 21,007 shares of company stock valued at $2,644,421 over the last quarter. Company insiders own 19.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Cintas by 1,737.2% in the first quarter. BlackRock Inc. now owns 6,465,344 shares of the business services provider’s stock worth $818,121,000 after buying an additional 6,113,425 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Cintas by 385.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 970,364 shares of the business services provider’s stock worth $112,135,000 after buying an additional 770,364 shares in the last quarter. Norges Bank bought a new stake in shares of Cintas during the fourth quarter worth approximately $66,269,000. Congress Asset Management Co. MA bought a new stake in shares of Cintas during the fourth quarter worth approximately $63,718,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Cintas during the first quarter worth approximately $57,378,000. Hedge funds and other institutional investors own 66.28% of the company’s stock.
Cintas Corporation 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, first aid and safety services and fire protection products and services.
Receive News & Ratings for Cintas Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas Co. and related companies with MarketBeat.com's FREE daily email newsletter.