Contravisory Investment Management Lowers stake in Cintas Corporation (CTAS)

Cintas Corporation (CTAS) : Contravisory Investment Management reduced its stake in Cintas Corporation by 6.64% during the most recent quarter end. The investment management company now holds a total of 109,739 shares of Cintas Corporation which is valued at $12,156,886 after selling 7,810 shares in Cintas Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Cintas Corporation makes up approximately 3.98% of Contravisory Investment Management’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in CTAS by selling 2,600 shares or 26.53% in the most recent quarter. The Hedge Fund company now holds 7,200 shares of CTAS which is valued at $795,312. Cintas Corporation makes up approx 0.11% of First Mercantile Trust Co’s portfolio. Central Bank Trust Co added CTAS to its portfolio by purchasing 58 company shares during the most recent quarter which is valued at $6,407.Chevy Chase Trust Holdings reduced its stake in CTAS by selling 2,496 shares or 3.37% in the most recent quarter. The Hedge Fund company now holds 71,598 shares of CTAS which is valued at $7,941,650. Cintas Corporation makes up approx 0.04% of Chevy Chase Trust Holdings’s portfolio.

Cintas Corporation closed down -1.46 points or -1.32% at $109.32 with 5,13,928 shares getting traded on Tuesday. Post opening the session at $110.31, the shares hit an intraday low of $108.98 and an intraday high of $110.9 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Cintas Corporation reported $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Sep 27, 2016. Analyst had a consensus of $1.08. The company had revenue of $1290.00 million for the quarter, compared to analysts expectations of $1278.83 million. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on Cintas Corporation. Macquarie Initiated Cintas Corporation on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $130.Company shares were Upgraded by Robert W. Baird on Aug 17, 2016 to ” Outperform”, Firm has raised the Price Target to $ 140 from a previous price target of $111 .Company shares were Upgraded by Barclays on Aug 17, 2016 to ” Overweight”, Firm has raised the Price Target to $ 130 from a previous price target of $110 .

Cintas Corporation provides products and services to businesses of all types. The Company is a provider of corporate identity uniforms through rental and sales programs as well as a provider of related business services including entrance mats restroom cleaning services and supplies carpet and tile cleaning services and first aid safety and fire protection products and services. The Company has three segments: Rental Uniforms and Ancillary Products Uniform Direct Sales and First Aid Safety and Fire Protection Services. The Company’s Rental Uniforms and Ancillary Products segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing mats mops and shop towels and other ancillary items. The Company’s Uniform Direct Sales segment consists of the direct sale of uniforms and related items. The Company’s First Aid Safety and Fire Protection Services segment consists of first aid safety and fire protection products and services.

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