Carnegie Investment Counsel Has $15.27 Million Position in Cintas Corporation (NASDAQ:CTAS)

Carnegie Investment Counsel grew its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,147 shares of the business services provider's stock after acquiring an additional 2,527 shares during the quarter. Carnegie Investment Counsel's holdings in Cintas were worth $15,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in shares of Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after purchasing an additional 181 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in shares of Cintas in the first quarter valued at $46,000. Olde Wealth Management LLC acquired a new position in shares of Cintas in the first quarter valued at $55,000. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of Cintas in the fourth quarter valued at $59,000. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent research reports. Royal Bank Of Canada restated 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. JPMorgan Chase & Co. assumed coverage on Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price for the company. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. Bank of America assumed coverage on Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective for the company. Finally, UBS Group increased their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $224.54.

Cintas Trading Up 0.3%

Cintas stock traded up $0.68 during mid-day trading on Friday, hitting $223.56. The stock had a trading volume of 1,074,701 shares, compared to its average volume of 1,461,321. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The stock has a market capitalization of $90.27 billion, a PE ratio of 50.69, a P/E/G ratio of 3.51 and a beta of 1.05. The stock has a 50-day simple moving average of $221.44 and a two-hundred day simple moving average of $209.42.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter last year, the business earned $3.99 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Insider Transactions at Cintas

In other Cintas news, Director Martin Mucci purchased 1,200 shares of the company's stock in a transaction dated Monday, July 21st. The shares were bought at an average price of $222.55 per share, with a total value of $267,060.00. Following the completion of the transaction, the director directly owned 2,621 shares in the company, valued at $583,303.55. This trade represents a 84.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.00% of the company's stock.

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.