Cintas (NASDAQ:CTAS) Stock Price Crosses Above 200-Day Moving Average of $646.55

Cintas Co. (NASDAQ:CTAS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $646.55 and traded as high as $704.61. Cintas shares last traded at $702.67, with a volume of 207,016 shares trading hands.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. UBS Group boosted their price target on shares of Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Citigroup lowered shares of Cintas from a “neutral” rating to a “sell” rating and raised their target price for the company from $530.00 to $570.00 in a report on Friday, May 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Truist Financial raised their target price on shares of Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $664.07.

Cintas Stock Down 0.2 %

The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. The company has a market cap of $71.29 billion, a P/E ratio of 48.53, a P/E/G ratio of 3.57 and a beta of 1.31. The business’s 50 day moving average is $689.32 and its 200 day moving average is $646.55.

Shares of Cintas are set to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 15th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 2,291 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total transaction of $1,589,839.45. Following the completion of the transaction, the director now directly owns 6,655 shares in the company, valued at $4,618,237.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ronald W. Tysoe sold 2,291 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $693.95, for a total transaction of $1,589,839.45. Following the sale, the director now owns 6,655 shares of the company’s stock, valued at approximately $4,618,237.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jim Rozakis sold 1,318 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $693.71, for a total transaction of $914,309.78. Following the sale, the chief operating officer now directly owns 59,770 shares in the company, valued at $41,463,046.70. The disclosure for this sale can be found here. 14.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cintas

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Cintas by 44.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,270 shares of the business services provider’s stock worth $889,000 after buying an additional 389 shares in the last quarter. Park Place Capital Corp boosted its stake in Cintas by 79.3% during the 2nd quarter. Park Place Capital Corp now owns 651 shares of the business services provider’s stock worth $456,000 after purchasing an additional 288 shares during the last quarter. Appleton Partners Inc. MA raised its holdings in Cintas by 25.3% in the 2nd quarter. Appleton Partners Inc. MA now owns 2,046 shares of the business services provider’s stock valued at $1,433,000 after acquiring an additional 413 shares during the last quarter. SRN Advisors LLC increased its stake in shares of Cintas by 5.1% in the 1st quarter. SRN Advisors LLC now owns 2,413 shares of the business services provider’s stock worth $1,658,000 after acquiring an additional 118 shares during the last quarter. Finally, American Trust increased its stake in Cintas by 28.6% during the first quarter. American Trust now owns 8,481 shares of the business services provider’s stock worth $5,827,000 after acquiring an additional 1,885 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

About Cintas

Cintas Corporation provides 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.