Arrowstreet Capital Limited Partnership Acquires 526,299 Shares of Cintas Corporation $CTAS

Key Points

• Arrowstreet Capital increased its Cintas stake by 34.8% in the first quarter, buying 526,299 additional shares and bringing its total holdings to 2,040,757 shares worth about $345.2 million.
• Cintas beat quarterly expectations, reporting EPS of $1.29 on revenue of $2.91 billion, both above analyst estimates, while revenue rose 8.9% year over year.
• Analyst sentiment is mixed but generally positive, with Bank of America upgrading Cintas to “buy” and the consensus rating sitting at “Moderate Buy” with an average price target of $212.31.

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 34.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,040,757 shares of the business services provider's stock after acquiring an additional 526,299 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.51% of Cintas worth $345,174,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Caxton Associates LLP increased its stake in Cintas by 531.0% in the 1st quarter. Caxton Associates LLP now owns 22,647 shares of the business services provider's stock worth $3,831,000 after buying an additional 19,058 shares during the period. Cetera Investment Advisers boosted its position in Cintas by 34.2% in the 1st quarter. Cetera Investment Advisers now owns 234,765 shares of the business services provider's stock valued at $39,708,000 after buying an additional 59,821 shares during the period. Alpha Financial Partners LLC boosted its position in Cintas by 6.5% in the 1st quarter. Alpha Financial Partners LLC now owns 1,665 shares of the business services provider's stock valued at $282,000 after buying an additional 101 shares during the period. First Citizens Bank & Trust Co. grew its stake in Cintas by 24.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 7,791 shares of the business services provider's stock worth $1,318,000 after acquiring an additional 1,535 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Cintas by 11.0% in the 1st quarter. First Trust Advisors LP now owns 112,176 shares of the business services provider's stock worth $18,973,000 after acquiring an additional 11,132 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CTAS shares. Bank of America raised shares of 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. Stifel Nicolaus dropped their price objective on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th. Citigroup dropped their price objective on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings upgraded Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Cintas has an average rating of "Moderate Buy" and a consensus price target of $212.31.

Cintas Stock Performance

CTAS stock opened at $203.25 on Friday. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The firm has a market cap of $81.32 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 3.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. The firm has a 50-day simple moving average of $178.55 and a two-hundred day simple moving average of $183.19.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts forecast that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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