Cintas (CTAS) Rating Increased to Strong-Buy at BidaskClub
A number of other equities analysts also recently issued reports on the company. Morgan Stanley lowered their price objective on Cintas from $167.00 to $163.00 and set an “underweight” rating for the company in a research report on Tuesday, January 8th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and set a $166.50 price objective for the company in a research report on Thursday, January 3rd. They noted that the move was a valuation call. Robert W. Baird lowered their price objective on Cintas from $235.00 to $201.00 and set an “outperform” rating for the company in a research report on Friday, December 21st. Credit Suisse Group lowered their price objective on Cintas from $205.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, December 21st. Finally, Northcoast Research restated a “neutral” rating on shares of Cintas in a research report on Friday, December 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Cintas presently has a consensus rating of “Hold” and a consensus target price of $194.45.
Shares of CTAS opened at $213.68 on Thursday. Cintas has a 1 year low of $155.98 and a 1 year high of $217.34. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.80. The stock has a market cap of $22.34 billion, a PE ratio of 35.97, a P/E/G ratio of 2.29 and a beta of 1.08.
In related news, insider Michael Lawrence Thompson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $200.60, for a total transaction of $200,600.00. Following the completion of the sale, the insider now owns 64,165 shares of the company’s stock, valued at $12,871,499. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas E. Frooman sold 2,415 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $207.81, for a total value of $501,861.15. Following the sale, the vice president now directly owns 122,251 shares of the company’s stock, valued at approximately $25,404,980.31. The disclosure for this sale can be found here. Insiders have sold 8,155 shares of company stock valued at $1,658,496 in the last ninety days. 19.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nelson Roberts Investment Advisors LLC acquired a new stake in Cintas in the fourth quarter valued at approximately $25,000. Capital Financial Planning LLC acquired a new stake in Cintas in the fourth quarter valued at approximately $29,000. Financial Gravity Wealth Inc. acquired a new stake in Cintas in the first quarter valued at approximately $36,000. Washington Trust Bank acquired a new stake in Cintas in the first quarter valued at approximately $45,000. Finally, Lindbrook Capital LLC acquired a new stake in Cintas in the fourth quarter valued at approximately $105,000. 67.04% of the stock is owned by institutional investors and hedge funds.
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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