Bleakley Financial Group LLC Acquires 1,802 Shares of Cintas Corporation (NASDAQ:CTAS)

Bleakley Financial Group LLC lifted its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 13.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,174 shares of the business services provider's stock after buying an additional 1,802 shares during the period. Bleakley Financial Group LLC's holdings in Cintas were worth $3,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after purchasing an additional 219,809 shares during the period. Invesco Ltd. boosted its stake in shares of Cintas by 6.1% during the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after buying an additional 296,059 shares during the last quarter. Norges Bank acquired a new position in shares of Cintas during the 4th quarter worth about $877,216,000. Northern Trust Corp boosted its stake in shares of Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after buying an additional 472,069 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after buying an additional 115,268 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CTAS. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research note on Thursday, May 1st. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. UBS Group raised their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Bank of America initiated coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price for the company. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 target price (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cintas currently has an average rating of "Hold" and a consensus target price of $220.96.

Cintas Stock Performance

Cintas stock traded up $7.90 during trading hours on Thursday, hitting $221.92. The company had a trading volume of 3,454,315 shares, compared to its average volume of 1,674,445. The firm has a market cap of $89.61 billion, a PE ratio of 51.40, a PEG ratio of 3.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. Cintas Corporation has a one year low of $179.87 and a one year high of $229.24. The firm has a 50-day moving average of $220.71 and a 200 day moving average of $207.50.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.30%. During the same quarter in the previous year, the firm earned $3.99 EPS. Cintas's revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Company Profile

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.