Cintas (NASDAQ:CTAS) Stock Price Down 6.4% – Here’s Why

Cintas Corporation (NASDAQ:CTAS)’s share price dropped 6.4% on Tuesday. The company traded as low as $209.48 and last traded at $211.4650. 1,402,022 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 2,101,828 shares. The stock had previously closed at $225.93.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CTAS shares. Weiss Ratings cut shares of Cintas from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. Citigroup upped their target price on shares of Cintas from $180.00 to $181.00 and gave the stock a “sell” rating in a report on Wednesday, September 30th. Sanford C. Bernstein restated a “market perform” rating on shares of Cintas in a report on Thursday, September 10th. Truist Financial raised their price target on shares of Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Finally, Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.50.

Cintas Stock Down 4.5%

The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $85.69 billion, a PE ratio of 42.56, a P/E/G ratio of 3.55 and a beta of 0.92. The stock’s fifty day simple moving average is $202.69 and its 200-day simple moving average is $189.80.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, sell-side analysts forecast that Cintas Corporation will post 5.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Cintas

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Cintas during the 2nd quarter worth approximately $4,520,425,000. Bank of New York Mellon Corp bought a new position in shares of Cintas in the second quarter valued at approximately $644,334,000. Legal & General Group Plc bought a new position in shares of Cintas in the second quarter valued at approximately $386,159,000. Bank of America Corp DE purchased a new stake in shares of Cintas during the second quarter valued at approximately $233,111,000. Finally, Deutsche Bank AG purchased a new stake in shares of Cintas during the second quarter valued at approximately $204,831,000. 63.46% of the stock is owned by institutional investors.

About Cintas

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.