Cintas (NASDAQ:CTAS) Stock Rating Upgraded by StockNews.com

Cintas (NASDAQ:CTAS) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft boosted their target price on Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Citigroup lowered shares of Cintas from a “neutral” rating to a “sell” rating and lifted their target price for the company from $530.00 to $570.00 in a report on Friday, May 24th. Bank of America raised their price objective on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Barclays raised their target price on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group upped their price target on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $664.07.

Cintas Trading Up 0.5 %

Shares of CTAS stock traded up $3.73 during mid-day trading on Friday, hitting $695.69. 216,041 shares of the company’s stock were exchanged, compared to its average volume of 346,182. The stock has a 50-day simple moving average of $679.20 and a two-hundred day simple moving average of $632.40. Cintas has a fifty-two week low of $474.74 and a fifty-two week high of $705.74. The stock has a market cap of $70.58 billion, a price-to-earnings ratio of 48.04, a PEG ratio of 3.51 and a beta of 1.30. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas’s stock is going to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. Cintas’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.14 earnings per share. Equities analysts expect that Cintas will post 14.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 1,318 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total transaction of $914,309.78. Following the completion of the transaction, the chief operating officer now directly owns 59,770 shares in the company, valued at approximately $41,463,046.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cintas news, COO Jim Rozakis sold 1,318 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $693.71, for a total transaction of $914,309.78. Following the completion of the transaction, the chief operating officer now directly owns 59,770 shares of the company’s stock, valued at approximately $41,463,046.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 2,291 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total transaction of $1,589,839.45. Following the completion of the sale, the director now owns 6,655 shares in the company, valued at approximately $4,618,237.25. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cintas

Several large investors have recently bought and sold shares of CTAS. SRN Advisors LLC lifted its holdings in shares of Cintas by 5.1% in the first quarter. SRN Advisors LLC now owns 2,413 shares of the business services provider’s stock valued at $1,658,000 after buying an additional 118 shares during the period. American Trust lifted its holdings in Cintas by 28.6% in the 1st quarter. American Trust now owns 8,481 shares of the business services provider’s stock valued at $5,827,000 after acquiring an additional 1,885 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in Cintas in the 1st quarter valued at about $29,000. Cetera Advisors LLC boosted its position in shares of Cintas by 185.1% during the 1st quarter. Cetera Advisors LLC now owns 8,980 shares of the business services provider’s stock valued at $6,170,000 after purchasing an additional 5,830 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Cintas by 141.3% in the 1st quarter. Cetera Investment Advisers now owns 25,498 shares of the business services provider’s stock worth $17,518,000 after purchasing an additional 14,930 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

About Cintas

Cintas Corporation provides corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other 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, as well as sells uniforms.