TimesSquare Capital Management LLC Sells 78,780 Shares of Cintas Corporation (NASDAQ:CTAS)

TimesSquare Capital Management LLC lowered its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 410,322 shares of the business services provider's stock after selling 78,780 shares during the period. Cintas accounts for about 1.4% of TimesSquare Capital Management LLC's holdings, making the stock its 17th biggest position. TimesSquare Capital Management LLC owned approximately 0.10% of Cintas worth $84,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC increased its position in shares of Cintas by 7.7% during the first quarter. Apollon Wealth Management LLC now owns 37,523 shares of the business services provider's stock valued at $7,712,000 after acquiring an additional 2,695 shares during the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Cintas by 4.6% in the first quarter. Catalyst Financial Partners LLC now owns 3,199 shares of the business services provider's stock worth $657,000 after acquiring an additional 141 shares during the period. Edgestream Partners L.P. bought a new position in shares of Cintas in the first quarter worth $4,424,000. Bleakley Financial Group LLC boosted its stake in Cintas by 13.5% during the first quarter. Bleakley Financial Group LLC now owns 15,174 shares of the business services provider's stock valued at $3,119,000 after buying an additional 1,802 shares during the period. Finally, Marks Group Wealth Management Inc boosted its stake in Cintas by 36.1% during the first quarter. Marks Group Wealth Management Inc now owns 37,388 shares of the business services provider's stock valued at $7,684,000 after buying an additional 9,923 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Down 1.4%

Cintas stock traded down $3.01 on Tuesday, hitting $213.89. 389,099 shares of the stock traded hands, compared to its average volume of 1,662,643. 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 firm has a market cap of $86.37 billion, a P/E ratio of 49.56, a price-to-earnings-growth ratio of 3.36 and a beta of 1.05. The business's fifty day simple moving average is $220.74 and its 200 day simple moving average is $207.42. Cintas Corporation has a 1 year low of $178.42 and a 1 year high of $229.24.

Analyst Ratings Changes

CTAS has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Robert W. Baird lifted their price objective on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 price objective (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Bank of America initiated coverage on Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of "Hold" and an average target price of $220.96.

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.