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Cintas Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Shares of Cintas (NASDAQ:CTAS) traded today at $117.65, breaking its 52-week high. This new high was reached on approximately average trading volume as 503,000 shares traded hands, while the average 30-day volume is approximately 692,000 shares.

In the past 52 weeks, Cintas share prices have been bracketed by a low of $78.00 and a high of $117.65 and are now at $115.64, 48% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.52% higher over the past week, respectively.

Cintas designs, manufactures and implements corporate identity uniform programs. The Company also provides entrance mats, restroom supplies, promotional products, document management, fire protection, and first aid and safety services.

Based on a current price of $115.64, Cintas is currently 22.5% above its average consensus analyst price target of $89.67. The stock should find initial support at its 50-day moving average (MA) of $88.85 and further support at its 200-day MA of $88.02.

SmarTrend recommended that subscribers consider buying shares of Cintas on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.01. Since that recommendation, shares of Cintas have risen 23.5%. We continue to monitor CTAS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Cintas

Ticker(s): CTAS