Cintas (NASDAQ:CTAS) Downgraded by Citigroup to Sell

Cintas (NASDAQ:CTAS) was downgraded by analysts at Citigroup from a “neutral” rating to a “sell” rating in a note issued to investors on Friday, Briefing.com reports. They currently have a $570.00 price target on the business services provider’s stock, up from their prior price target of $530.00. Citigroup’s price objective indicates a potential downside of 18.11% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. UBS Group lifted their target price on shares of Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Oppenheimer reaffirmed a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Royal Bank of Canada lifted their target price on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, Truist Financial lifted their target price on shares of Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and an average target price of $664.07.

Cintas Trading Down 0.8 %

Shares of CTAS opened at $696.07 on Friday. The firm has a market cap of $70.62 billion, a price-to-earnings ratio of 48.07, a PEG ratio of 3.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. Cintas has a fifty-two week low of $458.00 and a fifty-two week high of $705.74. The firm has a 50 day moving average price of $671.07 and a 200-day moving average price of $617.00.

Cintas’s stock is going to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.14 EPS. As a group, equities research analysts forecast that Cintas will post 14.95 earnings per share for the current year.

Insider Buying and Selling

In other Cintas 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 owns 59,770 shares in the company, valued at approximately $41,463,046.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 approximately $4,618,237.25. 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 institutional investors have recently made changes to their positions in CTAS. Janiczek Wealth Management LLC lifted its stake in shares of Cintas by 113.0% in 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 during the period. Rise Advisors LLC purchased a new stake in Cintas in the 1st quarter worth approximately $30,000. Catalyst Capital Advisors LLC increased its holdings in Cintas by 33.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after acquiring an additional 19 shares in the last quarter. Webster Bank N. A. purchased a new stake in Cintas in the 1st quarter worth approximately $38,000. Finally, DSM Capital Partners LLC purchased a new stake in Cintas in the 4th quarter worth approximately $40,000. Institutional investors own 63.46% of the company’s stock.

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.