Cintas Corporation (CTAS) Receives Consensus Recommendation of “Hold” from Brokerages
Cintas Corporation (NASDAQ:CTAS) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $128.00.
Several equities analysts have recently issued reports on CTAS shares. Zacks Investment Research downgraded shares of Cintas Corporation from a “buy” rating to a “hold” rating in a research note on Monday, February 20th. Robert W. Baird reaffirmed an “outperform” rating and set a $143.00 price target (up previously from $135.00) on shares of Cintas Corporation in a research note on Thursday, March 23rd. Barclays PLC raised their price target on shares of Cintas Corporation from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, March 23rd. Deutsche Bank AG started coverage on shares of Cintas Corporation in a research note on Wednesday, February 22nd. They set a “hold” rating and a $120.00 price target for the company. Finally, Piper Jaffray Companies raised their price target on shares of Cintas Corporation from $117.00 to $129.00 and gave the company a “neutral” rating in a research note on Thursday, March 23rd.
In other news, VP Thomas E. Frooman sold 11,500 shares of the stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $127.23, for a total transaction of $1,463,145.00. Following the completion of the sale, the vice president now directly owns 74,466 shares in the company, valued at $9,474,309.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Treasurer Paul F. Adler sold 4,030 shares of the stock in a transaction 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 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. Over the last quarter, insiders have sold 21,007 shares of company stock valued at $2,644,421. 19.10% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of CTAS. BlackRock Inc. boosted its stake in Cintas Corporation 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 during the last quarter. Norges Bank bought a new stake in Cintas Corporation during the fourth quarter worth approximately $66,269,000. Congress Asset Management Co. MA bought a new stake in Cintas Corporation during the fourth quarter worth approximately $63,718,000. MARSHALL WACE ASIA Ltd bought a new stake in Cintas Corporation during the first quarter worth approximately $57,378,000. Finally, Marshall Wace North America L.P. bought a new stake in Cintas Corporation during the first quarter worth approximately $57,378,000. Institutional investors own 69.22% of the company’s stock.
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Cintas Corporation (CTAS) traded up 0.44% during mid-day trading on Monday, reaching $131.03. 217,491 shares of the company’s stock were exchanged. Cintas Corporation has a 12 month low of $91.24 and a 12 month high of $131.17. The stock has a 50-day moving average of $123.86 and a 200-day moving average of $120.41. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 27.17 and a beta of 0.83.
Cintas Corporation (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 22nd. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. Cintas Corporation had a net margin of 10.25% and a return on equity of 24.32%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. Analysts anticipate that Cintas Corporation will post $4.51 earnings per share for the current year.
Cintas Corporation Company Profile
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.
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