Cetera Investment Advisers Grows Position in Cintas Corporation $CTAS

Key Points

• Cetera Investment Advisers increased its Cintas stake by 34.2% in the first quarter, buying an additional 59,821 shares and bringing its holdings to 234,765 shares worth about $39.7 million.
• Cintas reported stronger-than-expected quarterly results, with EPS of $1.29 versus the $1.24 consensus and revenue of $2.91 billion, up 8.9% year over year.
• Wall Street remains largely positive on CTAS, with an average “Moderate Buy” rating and an average price target of $212.31, while several firms recently raised their targets after the earnings report.

Cetera Investment Advisers boosted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 34.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,765 shares of the business services provider's stock after acquiring an additional 59,821 shares during the period. Cetera Investment Advisers owned about 0.06% of Cintas worth $39,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after buying an additional 108 shares during the period. Sivia Capital Partners LLC lifted its holdings in Cintas by 42.3% during the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock worth $321,000 after buying an additional 428 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Cintas during the second quarter worth $625,000. Treasurer of the State of North Carolina boosted its position in Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock valued at $47,291,000 after acquiring an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC boosted its position in Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock valued at $20,710,000 after acquiring an additional 31,068 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Price Performance

NASDAQ CTAS opened at $205.91 on Friday. The firm's fifty day simple moving average is $179.30 and its two-hundred day simple moving average is $183.35. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75. The firm has a market capitalization of $82.38 billion, a P/E ratio of 55.06, a P/E/G ratio of 3.32 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CTAS shares. Robert W. Baird boosted their price target on Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Bank of America upgraded Cintas from a "neutral" rating to a "buy" rating and lifted their target price for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. UBS Group reiterated a "buy" rating and issued a $230.00 target price (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Finally, Citigroup decreased their price target on shares of Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $212.31.

About Cintas

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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