Cintas Corporation $CTAS Stake Decreased by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its Cintas stake by 93% in the third quarter, selling 25,979 shares and retaining 1,963 shares valued at approximately $383,000.
• Cintas reported stronger-than-expected quarterly results, with EPS of $1.39 versus the $1.35 consensus estimate and revenue of $3.01 billion, up 10.9% year over year.
• Shares opened at $225.93, near their 12-month high, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $218.50; institutional investors own 63.46% of the stock.

Axxcess Wealth Management LLC decreased its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 93.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,963 shares of the business services provider's stock after selling 25,979 shares during the quarter. Axxcess Wealth Management LLC's holdings in Cintas were worth $383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Income Insurance Ltd purchased a new position in Cintas during the third quarter valued at $210,000. Albion Financial Group UT purchased a new stake in Cintas in the 3rd quarter worth $179,000. Sawyer & Company Inc bought a new position in shares of Cintas during the 3rd quarter valued at about $3,135,000. Sowell Financial Services LLC bought a new position in shares of Cintas during the 3rd quarter valued at about $217,000. Finally, 365 WMG Private Fund I Primus Fund LLC bought a new position in shares of Cintas during the 3rd quarter valued at about $630,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Up 0.8%

NASDAQ:CTAS opened at $225.93 on Tuesday. The company has a market cap of $89.71 billion, a price-to-earnings ratio of 43.68, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.69. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $202.69 and a 200-day simple moving average of $189.80.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.35 by $0.04. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 EPS. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Analysts anticipate that Cintas Corporation will post 5.53 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on CTAS shares. Wells Fargo & Company restated an "overweight" rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Cintas from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday. Robert W. Baird set a $222.00 target price on shares of Cintas and gave the company an "outperform" rating in a research report on Thursday, September 24th. Sanford C. Bernstein reissued a "market perform" rating on shares of Cintas in a research note on Thursday, September 10th. Finally, Citigroup upped their price objective on Cintas from $180.00 to $181.00 and gave the company a "sell" rating in a research report on Wednesday, September 30th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Moderate Buy" and a consensus price target of $218.50.

Cintas Profile

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.

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