Cintas (NASDAQ:CTAS) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Cintas (NASDAQ:CTAS) from a buy rating to a hold rating in a research report sent to investors on Wednesday, BidAskClub reports.

CTAS has been the topic of several other reports. Zacks Investment Research downgraded shares of Cintas from a buy rating to a hold rating in a report on Wednesday, May 15th. Morgan Stanley upped their price objective on shares of Cintas from $163.00 to $172.00 and gave the company an underweight rating in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cintas from $210.00 to $235.00 and gave the company an overweight rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $200.05.

NASDAQ:CTAS opened at $232.38 on Wednesday. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.30 and a beta of 1.00. Cintas has a twelve month low of $155.98 and a twelve month high of $237.55. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.80.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, March 21st. The business services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The company had revenue of $1.68 million for the quarter, compared to the consensus estimate of $1.69 billion. Cintas had a net margin of 12.44% and a return on equity of 25.85%. Cintas’s revenue was down 99.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. On average, equities research analysts expect that Cintas will post 7.46 earnings per share for the current year.

In other news, VP Thomas E. Frooman sold 2,415 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Scaminace sold 6,255 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the completion of the sale, the director now directly owns 7,973 shares in the company, valued at $1,771,600.60. The disclosure for this sale can be found here. 19.10% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in CTAS. Capital Financial Planning LLC purchased a new stake in Cintas during the fourth quarter worth $29,000. Financial Gravity Wealth Inc. purchased a new stake in Cintas during the first quarter worth $36,000. CWM LLC boosted its holdings in Cintas by 52.4% during the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after buying an additional 66 shares in the last quarter. Washington Trust Bank purchased a new stake in Cintas during the first quarter worth $45,000. Finally, Resources Investment Advisors Inc. purchased a new stake in Cintas during the first quarter worth $81,000. 67.05% of the stock is currently owned by institutional investors and hedge funds.

About Cintas

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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Analyst Recommendations for Cintas (NASDAQ:CTAS)

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