Cintas (NASDAQ:CTAS) Rating Lowered to Sell at Redburn Atlantic

Redburn Atlantic lowered shares of Cintas (NASDAQ:CTAS - Free Report) from a neutral rating to a sell rating in a research report report published on Thursday morning, MarketBeat.com reports. They currently have $171.00 price objective on the business services provider's stock.

Other analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. 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 objective for the company. UBS Group increased their target price on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird boosted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Finally, Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $213.88.

Cintas Stock Up 0.4 %

NASDAQ:CTAS traded up $0.90 on Thursday, reaching $212.72. 460,191 shares of the stock traded hands, compared to its average volume of 1,692,943. The company's fifty day simple moving average is $202.21 and its 200 day simple moving average is $204.26. The company has a market capitalization of $85.89 billion, a price-to-earnings ratio of 51.31, a PEG ratio of 3.98 and a beta of 1.09. Cintas has a 12 month low of $164.93 and a 12 month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the company earned $3.84 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that Cintas will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.73%. Cintas's dividend payout ratio is currently 36.11%.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction 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 now owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Institutional Trading of Cintas

A number of hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new position in Cintas during the fourth quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas in the 4th quarter valued at about $29,000. Endeavor Private Wealth Inc. purchased a new position in Cintas during the 4th quarter worth approximately $31,000. IAG Wealth Partners LLC boosted its holdings in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after acquiring an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 63.46% of the company's stock.

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.