Cintas (NASDAQ:CTAS) Upgraded to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Cintas (NASDAQ:CTAS - Free Report) from an underweight rating to an equal weight rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. Wells Fargo & Company currently has $221.00 price objective on the business services provider's stock, up from their prior price objective of $196.00.

CTAS has been the topic of a number of other reports. Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 price target (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a report on Thursday, May 1st. Robert W. Baird lifted their target price on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Bank of America assumed coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $217.73.

Cintas Trading Up 0.6%

Shares of CTAS traded up $1.44 during mid-day trading on Tuesday, reaching $224.31. The stock had a trading volume of 1,282,111 shares, compared to its average volume of 1,663,330. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The business's fifty day moving average is $219.09 and its 200 day moving average is $205.67. Cintas has a 52-week low of $172.20 and a 52-week high of $229.24. The firm has a market cap of $90.57 billion, a price-to-earnings ratio of 51.95, a P/E/G ratio of 3.44 and a beta of 1.08.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's payout ratio is 36.11%.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director directly owned 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer owned 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Institutional Investors Weigh In On Cintas

Institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Wealth Management Advisory Group LLC grew its position in Cintas by 3.9% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock valued at $258,000 after buying an additional 47 shares during the last quarter. Oarsman Capital Inc. lifted its stake in shares of Cintas by 3.9% in the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider's stock valued at $272,000 after purchasing an additional 49 shares during the period. MJP Associates Inc. ADV grew its position in Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after buying an additional 50 shares during the period. Truvestments Capital LLC lifted its position in shares of Cintas by 17.4% during the 1st quarter. Truvestments Capital LLC now owns 338 shares of the business services provider's stock valued at $69,000 after acquiring an additional 50 shares during the period. Finally, Kathmere Capital Management LLC raised its holdings in Cintas by 4.1% during the first quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock worth $266,000 after purchasing an additional 51 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Company Profile

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.