Twelve Points Wealth Management LLC bought a new stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,367 shares of the business services provider's stock, valued at approximately $281,000.
Other institutional investors also recently made changes to their positions in the company. Cyrus J. Lawrence LLC purchased a new position in Cintas during the fourth quarter valued at approximately $29,000. IAG Wealth Partners LLC raised its stake in Cintas by 136.8% during 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 last quarter. Meeder Asset Management Inc. raised its stake 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 buying an additional 134 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in Cintas during the 4th quarter valued at about $40,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Cintas in the fourth quarter worth about $42,000. 63.46% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. UBS Group increased their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Morgan Stanley raised their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. Finally, The Goldman Sachs Group upped their price objective on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cintas has an average rating of "Hold" and an average target price of $219.58.
Read Our Latest Stock Analysis on CTAS
Cintas Price Performance
Shares of NASDAQ CTAS traded down $1.12 during mid-day trading on Friday, reaching $215.44. 1,035,324 shares of the company were exchanged, compared to its average volume of 1,670,659. Cintas Corporation has a 52 week low of $178.42 and a 52 week high of $229.24. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $86.99 billion, a PE ratio of 49.90, a PEG ratio of 3.36 and a beta of 1.05. The company's 50 day moving average price is $220.63 and its 200 day moving average price is $207.18.
Insider Buying and Selling
In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director owned 27,029 shares of the company's stock, 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 at the SEC website. 15.00% of the stock is currently owned by insiders.
Cintas Company Profile
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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.
Further Reading
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