Cintas (NASDAQ:CTAS) Downgraded to “Hold” at ValuEngine

ValuEngine downgraded shares of Cintas (NASDAQ:CTAS) from a buy rating to a hold rating in a research note issued to investors on Wednesday, ValuEngine reports.

Other analysts have also issued research reports about the company. BidaskClub lowered Cintas from a buy rating to a hold rating in a research note on Wednesday, September 11th. William Blair reaffirmed a buy rating on shares of Cintas in a research note on Thursday, June 20th. Royal Bank of Canada increased their price objective on Cintas from $267.00 to $275.00 and gave the company an outperform rating in a research note on Wednesday, September 25th. Morgan Stanley increased their price objective on Cintas from $202.00 to $217.00 and gave the company an underweight rating in a research note on Wednesday, September 25th. Finally, Barclays set a $295.00 price objective on Cintas and gave the company a buy rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Cintas presently has an average rating of Hold and a consensus target price of $261.80.

Cintas stock traded up $4.23 during trading hours on Wednesday, hitting $262.86. The stock had a trading volume of 385,553 shares, compared to its average volume of 747,592. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a market capitalization of $27.11 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.91 and a beta of 1.00. Cintas has a 1-year low of $155.98 and a 1-year high of $270.36. The stock’s fifty day moving average is $259.58 and its two-hundred day moving average is $236.71.

Cintas (NASDAQ:CTAS) last posted its earnings results on Tuesday, September 24th. The business services provider reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.17. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. Cintas had a return on equity of 28.61% and a net margin of 13.18%. Cintas’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.93 earnings per share. As a group, sell-side analysts anticipate that Cintas will post 8.57 EPS for the current year.

In other Cintas news, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,401,224.67. Following the sale, the vice president now directly owns 127,624 shares of the company’s stock, valued at approximately $33,283,062.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,274,741.52. Following the completion of the sale, the insider now directly owns 69,053 shares in the company, valued at $18,008,331.87. The disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. Krane Funds Advisors LLC purchased a new position in shares of Cintas in the 2nd quarter worth about $25,000. Coastal Investment Advisors Inc. purchased a new position in shares of Cintas in the 2nd quarter worth about $36,000. Sonora Investment Management LLC purchased a new position in shares of Cintas in the 2nd quarter worth about $42,000. Capital Investment Advisory Services LLC purchased a new position in shares of Cintas in the 2nd quarter worth about $52,000. Finally, Lenox Wealth Management Inc. raised its holdings in shares of Cintas by 20.5% in the 2nd quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock worth $55,000 after purchasing an additional 40 shares during the period. 66.26% of the stock is currently owned by hedge funds and other institutional investors.

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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