Cintas Corporation (NASDAQ:CTAS) Director Acquires $267,060.00 in Stock

Cintas Corporation (NASDAQ:CTAS - Get Free Report) Director Martin Mucci purchased 1,200 shares of Cintas stock in a transaction that occurred on Monday, July 21st. The shares were bought at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the transaction, the director directly owned 2,621 shares in the company, valued at $583,303.55. This represents a 84.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Cintas Stock Up 0.4%

Shares of CTAS stock traded up $1.00 during mid-day trading on Friday, reaching $223.88. 448,582 shares of the company were exchanged, compared to its average volume of 1,719,180. The business's 50 day simple moving average is $221.39 and its 200 day simple moving average is $209.07. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The company has a market capitalization of $90.40 billion, a P/E ratio of 50.76, a P/E/G ratio of 3.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company earned $3.99 earnings per share. Cintas's revenue was up 8.0% compared to the same quarter last year. Research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CTAS shares. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Argus upgraded Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Truist Financial raised their price target on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group lifted their target price on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. started coverage on Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $224.54.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Alpha Financial Partners LLC boosted its stake in shares of Cintas by 2.9% in the 2nd quarter. Alpha Financial Partners LLC now owns 1,602 shares of the business services provider's stock valued at $357,000 after purchasing an additional 45 shares during the last quarter. CWM LLC increased its holdings in shares of Cintas by 34.8% during the 2nd quarter. CWM LLC now owns 35,210 shares of the business services provider's stock worth $7,847,000 after acquiring an additional 9,085 shares during the last quarter. OFI Invest Asset Management boosted its stake in Cintas by 28.5% in the 2nd quarter. OFI Invest Asset Management now owns 500 shares of the business services provider's stock valued at $111,000 after purchasing an additional 111 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Cintas by 16.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 67,820 shares of the business services provider's stock valued at $15,117,000 after acquiring an additional 9,467 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Cintas by 22.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,191 shares of the business services provider's stock valued at $3,608,000 after acquiring an additional 2,994 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

About Cintas

Cintas Corporation engages in the provision of 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.