Bank of America Lowers Cintas (NASDAQ:CTAS) Price Target to $200.00

Cintas (NASDAQ:CTAS) had its price target reduced by stock analysts at Bank of America from $215.00 to $200.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Bank of America‘s price target indicates a potential upside of 16.33% from the stock’s previous close.

Several other analysts have also recently issued reports on CTAS. Weiss Ratings cut Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Citigroup dropped their price target on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Wednesday, March 11th. Finally, Stifel Nicolaus decreased their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus target price of $214.77.

Cintas Trading Up 0.0%

Shares of CTAS stock opened at $171.93 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The stock has a fifty day simple moving average of $172.95 and a two-hundred day simple moving average of $183.36. The firm has a market capitalization of $68.79 billion, a PE ratio of 48.48, a PEG ratio of 2.74 and a beta of 0.94. Cintas has a 52-week low of $161.16 and a 52-week high of $226.75.

Insider Buying and Selling at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 14.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cintas

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Cintas by 1.4% during the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after purchasing an additional 210,477 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cintas by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after purchasing an additional 97,220 shares during the last quarter. Norges Bank purchased a new stake in Cintas in the fourth quarter valued at approximately $923,672,000. Morgan Stanley raised its stake in shares of Cintas by 0.8% during the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock valued at $826,214,000 after buying an additional 36,666 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Cintas by 6.2% in the 4th quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock valued at $517,466,000 after buying an additional 158,785 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.