Asset Advisors Investment Management LLC Cuts Stake in Cintas Corporation (NASDAQ:CTAS)

Asset Advisors Investment Management LLC lowered its stake in Cintas Corporation (NASDAQ:CTAS) by 0.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 167,815 shares of the business services provider’s stock after selling 1,521 shares during the period. Cintas accounts for about 3.6% of Asset Advisors Investment Management LLC’s holdings, making the stock its 6th biggest holding. Asset Advisors Investment Management LLC’s holdings in Cintas were worth $34,491,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CTAS. Cyrus J. Lawrence LLC bought a new stake in Cintas during the fourth quarter worth $29,000. Meeder Asset Management Inc. raised its position in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after acquiring an additional 134 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in Cintas during the fourth quarter worth $40,000. Lee Danner & Bass Inc. bought a new stake in Cintas during the fourth quarter worth $42,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock worth $43,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CTAS. Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. UBS Group lifted 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. Morgan Stanley lifted their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Finally, Argus upgraded shares of Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $220.96.

Cintas Stock Performance

Shares of CTAS stock opened at $214.02 on Thursday. The firm has a 50-day moving average of $220.71 and a 200-day moving average of $207.50. The company has a market cap of $86.42 billion, a P/E ratio of 49.57, a P/E/G ratio of 3.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. Cintas Corporation has a one year low of $179.87 and a one year high of $229.24.

Cintas Profile

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.