Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cintas Corporation shares valued at $5,268,889 were sold by Schneider Todd M. on Jul 29 ’24. At $764.05 per share, Schneider Todd M. sold 6,896 shares. The insider’s holdings dropped to 146,936 shares worth approximately $30.03 million following the completion of this transaction.
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Also, Schneider Todd M. purchased 6,896 shares, netting a total of over 5,262,062 in proceeds.
Before that, Adolph Gerald S had sold 1,100 shares from its account. In a trade valued at $842,292, the Director traded Cintas Corporation shares for $765.72 each. Upon closing the transaction, the insider’s holdings decreased to 1,100 shares, worth approximately $6.43 million.
As published in their initiating research note from Wells Fargo on August 13, 2024, Cintas Corporation [CTAS] has been an Underweight and the price target has been revised to $735. Analysts at Redburn Atlantic started covering the stock with ‘”a Neutral”‘ outlook in a report released in early August. As of July 19, 2024, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for CTAS. Earlier on July 15, 2024, RBC Capital Mkts downgraded its rating. Their new recommendation was “a Sector perform” for CTAS stock which previously was a “an Outperform”.
Analyzing CTAS Stock Performance
During the last five days, there has been a drop of approximately -3.12%. Over the course of the year, Cintas Corporation shares have jumped approximately 35.66%. Shares of the company reached a 52-week high of $228.12 on 11/26/24 and a 52-week low of $143.64 on 01/05/24. A 50-day SMA is recorded $214.90, while a 200-day SMA reached $188.94. Nevertheless, trading volume fell to 3.49 million shares from 3.22 million shares the previous day.
Support And Resistance Levels for Cintas Corporation (CTAS)
According to the 24-hour chart, there is a support level at 202.36, which, if violated, would cause prices to drop to 200.34. In the upper region, resistance lies at 208.36. The next price resistance is at 212.34. RSI (Relative Strength Index) is 32.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.41, which suggests the price will decrease in the coming days. Percent R is at 99.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
