Cintas (NASDAQ:CTAS) Downgraded to “Hold” at Baird R W

Baird R W cut shares of Cintas (NASDAQ:CTAS) from a strong-buy rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

Several other equities research analysts have also issued reports on CTAS. The Goldman Sachs Group boosted their price target on shares of Cintas from $673.00 to $765.00 and gave the company a buy rating in a report on Thursday, March 28th. Morgan Stanley boosted their price target on shares of Cintas from $575.00 to $625.00 and gave the company an equal weight rating in a report on Friday. Barclays boosted their price target on shares of Cintas from $700.00 to $850.00 and gave the company an overweight rating in a report on Friday. Bank of America boosted their price target on shares of Cintas from $700.00 to $790.00 and gave the company a buy rating in a report on Thursday, March 28th. Finally, Oppenheimer restated a market perform rating on shares of Cintas in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has an average rating of Hold and an average price target of $749.00.

Cintas Trading Up 1.8 %

NASDAQ:CTAS opened at $772.05 on Friday. Cintas has a 12 month low of $474.74 and a 12 month high of $773.78. The firm has a market cap of $78.33 billion, a price-to-earnings ratio of 53.32, a P/E/G ratio of 3.84 and a beta of 1.31. The company has a quick ratio of 2.03, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $701.89 and its 200-day moving average is $659.66.

Shares of Cintas are set 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 closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the firm posted $3.33 earnings per share. Cintas’s revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that Cintas will post 16.6 EPS for the current year.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 2,291 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 6,655 shares in the company, valued at approximately $4,618,237.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Cintas news, COO Jim Rozakis sold 1,318 shares of the company’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 transaction, the chief operating officer now directly owns 59,770 shares in the company, valued at approximately $41,463,046.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 2,291 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 6,655 shares in the company, valued at $4,618,237.25. The disclosure for this sale can be found here. 15.10% of the stock is owned by corporate insiders.

Institutional Trading of Cintas

A number of institutional investors and hedge funds have recently modified their holdings of CTAS. Atwood & Palmer Inc. bought a new stake in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas during the 1st quarter worth approximately $29,000. Rise Advisors LLC bought a new stake in Cintas during the 1st quarter worth approximately $30,000. Janiczek Wealth Management LLC increased its stake in Cintas by 113.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after purchasing an additional 26 shares in the last quarter. Finally, Webster Bank N. A. bought a new stake in Cintas during the 1st quarter worth approximately $38,000. 63.46% of the stock is owned by institutional investors.

Cintas Company Profile

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.