Cintas (CTAS) Stock Price Down 6.5%

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Cintas Co. (NASDAQ:CTAS)’s share price fell 6.5% on Friday . The company traded as low as $193.75 and last traded at $194.55. 1,549,443 shares changed hands during mid-day trading, an increase of 197% from the average session volume of 522,303 shares. The stock had previously closed at $208.12.

CTAS has been the subject of a number of research reports. Zacks Investment Research lowered Cintas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 27th. Morgan Stanley raised their price target on Cintas from $163.00 to $172.00 and gave the stock an “underweight” rating in a research note on Friday. ValuEngine raised Cintas from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. JPMorgan Chase & Co. raised their price target on Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BidaskClub downgraded Cintas from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $195.86.

The company has a current ratio of 1.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.84. The company has a market cap of $20.34 billion, a P/E ratio of 32.75, a PEG ratio of 2.17 and a beta of 1.09.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, March 21st. The business services provider reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.13. The company had revenue of $1.68 million during 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 25.95%. The company’s quarterly revenue was down 99.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 EPS. On average, research analysts predict that Cintas Co. will post 7.47 earnings per share for the current year.

In other Cintas news, insider Michael Lawrence Thompson sold 1,000 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $200.60, for a total value of $200,600.00. Following the sale, the insider now directly owns 64,165 shares of the company’s stock, valued at $12,871,499. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Frooman sold 1,740 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $201.79, for a total value of $351,114.60. Following the completion of the sale, the vice president now directly owns 124,666 shares in the company, valued at $25,156,352.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,740 shares of company stock valued at $1,156,635. Company insiders own 19.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Nelson Roberts Investment Advisors LLC bought a new position in Cintas in the 4th quarter worth approximately $25,000. Capital Financial Planning LLC bought a new position in shares of Cintas during the fourth quarter worth approximately $29,000. Lindbrook Capital LLC bought a new position in shares of Cintas during the fourth quarter worth approximately $105,000. ETF Managers Group LLC increased its stake in shares of Cintas by 18.2% during the fourth quarter. ETF Managers Group LLC now owns 778 shares of the business services provider’s stock worth $131,000 after purchasing an additional 120 shares during the period. Finally, Truehand Inc bought a new position in shares of Cintas during the fourth quarter worth approximately $168,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

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About Cintas (NASDAQ:CTAS)

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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