Cintas (NASDAQ:CTAS) Downgraded by Royal Bank of Canada

Royal Bank of Canada downgraded shares of Cintas (NASDAQ:CTAS) from an outperform rating to a sector perform rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has $725.00 price target on the business services provider’s stock.

CTAS has been the topic of a number of other reports. StockNews.com raised Cintas from a hold rating to a buy rating in a report on Friday, June 14th. Oppenheimer reiterated a market perform rating on shares of Cintas in a report on Monday, April 1st. UBS Group raised their price objective on Cintas from $680.00 to $790.00 and gave the company a buy rating in a research note on Thursday, March 28th. Citigroup downgraded Cintas from a neutral rating to a sell rating and raised their price objective for the company from $530.00 to $570.00 in a research note on Friday, May 24th. Finally, The Goldman Sachs Group lifted their price target on Cintas from $673.00 to $765.00 and gave the stock a buy rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $710.55.

Cintas Stock Performance

Cintas stock opened at $719.78 on Monday. The stock has a market cap of $73.03 billion, a P/E ratio of 49.71, a price-to-earnings-growth ratio of 3.63 and a beta of 1.31. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $697.83 and a 200-day moving average of $655.52. Cintas has a 52 week low of $474.74 and a 52 week high of $727.04.

Shares of Cintas are scheduled to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be payable to shareholders after the market closes on Wednesday, September 11th.

Insider Activity

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

Hedge Funds Weigh In On Cintas

Several hedge funds have recently added to or reduced their stakes in CTAS. Brookmont Capital Management acquired a new position in Cintas in the second quarter valued at about $201,000. Hengehold Capital Management LLC raised its position in Cintas by 1.4% in the 2nd quarter. Hengehold Capital Management LLC now owns 1,866 shares of the business services provider’s stock valued at $1,307,000 after buying an additional 26 shares during the last quarter. Keudell Morrison Wealth Management acquired a new stake in Cintas in the 2nd quarter valued at approximately $204,000. ORG Partners LLC raised its position in Cintas by 1,203.8% in the 2nd quarter. ORG Partners LLC now owns 1,369 shares of the business services provider’s stock valued at $952,000 after buying an additional 1,264 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its position in Cintas by 14.8% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,625 shares of the business services provider’s stock valued at $1,138,000 after buying an additional 209 shares during the last quarter. Institutional investors 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.