Ascent Wealth Partners LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 27,312 shares of the business services provider's stock, valued at approximately $5,613,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lineweaver Wealth Advisors LLC grew its holdings in shares of Cintas by 5.2% during the first quarter. Lineweaver Wealth Advisors LLC now owns 24,226 shares of the business services provider's stock worth $4,979,000 after purchasing an additional 1,195 shares in the last quarter. Allen Capital Group LLC purchased a new position in shares of Cintas during the first quarter worth about $217,000. Cullen Frost Bankers Inc. boosted its stake in Cintas by 12.5% in the first quarter. Cullen Frost Bankers Inc. now owns 6,907 shares of the business services provider's stock worth $1,420,000 after buying an additional 769 shares in the last quarter. Guardian Wealth Advisors LLC boosted its stake in Cintas by 7.5% in the first quarter. Guardian Wealth Advisors LLC now owns 1,872 shares of the business services provider's stock worth $385,000 after buying an additional 131 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Cintas by 23.3% in the first quarter. Larson Financial Group LLC now owns 2,989 shares of the business services provider's stock worth $614,000 after buying an additional 564 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on CTAS shares. The Goldman Sachs Group increased their price objective on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 price target (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. JPMorgan Chase & Co. initiated coverage on Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target for the company. Morgan Stanley raised their price target on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Robert W. Baird raised their price target on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $222.75.
View Our Latest Stock Report on CTAS
Cintas Stock Performance
Shares of Cintas stock traded up $0.02 during trading on Friday, hitting $221.94. 2,528,220 shares of the company's stock traded hands, compared to its average volume of 1,667,974. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.50. Cintas Corporation has a 1 year low of $180.78 and a 1 year high of $229.24. The stock has a market capitalization of $89.62 billion, a P/E ratio of 50.33, a PEG ratio of 3.54 and a beta of 1.05. The business has a 50-day simple moving average of $220.99 and a 200-day simple moving average of $208.04.
Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm posted $3.99 earnings per share. As a group, analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.
About Cintas
(
Free Report)
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.
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