Mutual Advisors LLC trimmed its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 62.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,164 shares of the business services provider's stock after selling 1,896 shares during the quarter. Mutual Advisors LLC's holdings in Cintas were worth $243,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Cyrus J. Lawrence LLC acquired a new stake in Cintas in the fourth quarter worth about $29,000. IAG Wealth Partners LLC increased its position in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after purchasing an additional 104 shares during the period. Meeder Asset Management Inc. increased its position in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after purchasing an additional 134 shares during the period. VSM Wealth Advisory LLC acquired a new stake in Cintas in the fourth quarter worth about $40,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Cintas in the fourth quarter worth about $42,000. 63.46% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently commented on CTAS shares. UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Argus upgraded Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group boosted their target price on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $219.58.
Check Out Our Latest Report on CTAS
Cintas Price Performance
Shares of CTAS opened at $216.64 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The stock has a 50 day simple moving average of $220.42 and a 200 day simple moving average of $206.51. Cintas Corporation has a 52-week low of $177.33 and a 52-week high of $229.24. The firm has a market capitalization of $87.48 billion, a PE ratio of 50.18, a P/E/G ratio of 3.36 and a beta of 1.05.
Insider Activity
In related news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director directly owned 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.00% of the company's stock.
About Cintas
(
Free Report)
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.
Read More
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