OVERSEA CHINESE BANKING Corp Ltd Sells 5,168 Shares of Cintas Corporation (NASDAQ:CTAS)

OVERSEA CHINESE BANKING Corp Ltd cut its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 69.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,302 shares of the business services provider's stock after selling 5,168 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Cintas were worth $473,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cintas in the fourth quarter worth $877,216,000. GAMMA Investing LLC increased its holdings in Cintas by 19,644.3% in the 1st quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock valued at $465,133,000 after buying an additional 2,251,629 shares during the period. Winslow Capital Management LLC bought a new position in Cintas in the 4th quarter valued at about $196,057,000. Northern Trust Corp increased its holdings in Cintas by 13.1% in the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after buying an additional 472,069 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Cintas by 26.7% in the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after buying an additional 468,950 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTAS. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Robert W. Baird boosted their price target on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 price target (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Finally, The Goldman Sachs Group boosted their price target on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $220.96.

Cintas Trading Up 3.4%

Shares of Cintas stock traded up $7.26 on Thursday, hitting $221.28. 2,193,101 shares of the company's stock traded hands, compared to its average volume of 1,669,784. Cintas Corporation has a one year low of $179.87 and a one year high of $229.24. 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 company has a fifty day moving average of $220.71 and a two-hundred day moving average of $207.50. The company has a market capitalization of $89.35 billion, a price-to-earnings ratio of 51.22, a price-to-earnings-growth ratio of 3.33 and a beta of 1.05.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Cintas had a return on equity of 41.30% and a net margin of 17.53%. During the same quarter last year, the business posted $3.99 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Cintas Corporation will post 4.31 earnings per share for the current year.

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.