Concurrent Investment Advisors LLC Buys 2,429 Shares of Cintas Corporation (NASDAQ:CTAS)

Concurrent Investment Advisors LLC grew its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 22.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,197 shares of the business services provider's stock after buying an additional 2,429 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Cintas were worth $2,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. Cyrus J. Lawrence LLC bought a new stake in Cintas during the 4th quarter worth about $29,000. IAG Wealth Partners LLC raised its holdings in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after purchasing an additional 104 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares during the period. OFI Invest Asset Management bought a new stake in shares of Cintas in the 4th quarter valued at about $37,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Cintas in the 4th quarter valued at about $40,000. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded down $0.08 on Thursday, reaching $216.56. 1,002,130 shares of the company's stock were exchanged, compared to its average volume of 1,667,488. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $87.44 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 3.36 and a beta of 1.05. The company has a fifty day moving average of $220.42 and a 200-day moving average of $206.51. Cintas Corporation has a twelve month low of $177.33 and a twelve month high of $229.24.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CTAS shares. UBS Group upped their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Morgan Stanley upped their target price on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Bank of America started coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. Finally, Robert W. Baird upped their target price on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $219.58.

Insider Activity

In related news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction that occurred 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 owned 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 15.00% of the company's stock.

Cintas 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.