Cintas Corporation $CTAS Stock Bought by Everhart Financial Group Inc.

Key Points

• Everhart Financial Group more than doubled its Cintas stake in the third quarter, adding 5,986 shares to own 11,634 shares valued at approximately $2.27 million. Institutional investors collectively hold 63.46% of CTAS stock.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $216.08; several firms recently raised targets or upgraded the stock.
• Cintas reported quarterly EPS of $1.39 and revenue of $3.01 billion, exceeding estimates, while revenue grew 10.9% year over year. The company also raised its quarterly dividend to $0.52 per share, representing a 1.0% yield.

Everhart Financial Group Inc. increased its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 106.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,634 shares of the business services provider's stock after acquiring an additional 5,986 shares during the quarter. Everhart Financial Group Inc.'s holdings in Cintas were worth $2,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Avidian Wealth Enterprises LLC lifted its position in Cintas by 89.7% in the third quarter. Avidian Wealth Enterprises LLC now owns 5,933 shares of the business services provider's stock valued at $1,157,000 after purchasing an additional 2,805 shares during the period. Plan A Wealth LLC increased its stake in Cintas by 8.1% during the 3rd quarter. Plan A Wealth LLC now owns 1,375 shares of the business services provider's stock worth $268,000 after buying an additional 103 shares during the period. Toth Financial Advisory Corp lifted its holdings in Cintas by 85.8% in the 3rd quarter. Toth Financial Advisory Corp now owns 4,830 shares of the business services provider's stock worth $940,000 after buying an additional 2,231 shares in the last quarter. Elevation Wealth Partners LLC boosted its position in Cintas by 70.6% in the 3rd quarter. Elevation Wealth Partners LLC now owns 389 shares of the business services provider's stock valued at $76,000 after buying an additional 161 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new stake in shares of Cintas during the third quarter valued at about $56,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CTAS shares. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Cintas in a research report on Thursday, September 10th. Truist Financial increased their target price on Cintas from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Royal Bank Of Canada restated a "sector perform" rating and issued a $206.00 price target on shares of Cintas in a research note on Thursday, September 24th. Argus raised their price objective on shares of Cintas from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Tuesday, September 29th. Finally, Bank of America upgraded shares of Cintas from a "neutral" rating to a "buy" rating and upped their target price for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.08.

Cintas Stock Up 1.6%

NASDAQ CTAS traded up $3.06 during trading hours on Thursday, reaching $200.25. 358,582 shares of the company's stock were exchanged, compared to its average volume of 2,125,156. Cintas Corporation has a one year low of $161.16 and a one year high of $219.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45. The company's 50-day moving average is $200.50 and its two-hundred day moving average is $185.74. The company has a market capitalization of $80.24 billion, a price-to-earnings ratio of 39.49, a price-to-earnings-growth ratio of 3.11 and a beta of 0.92.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the company earned $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, analysts forecast that Cintas Corporation will post 5.52 EPS for the current fiscal year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from Cintas's previous quarterly dividend of $0.45. Cintas's payout ratio is presently 41.03%.

About Cintas

Cintas Corporation NASDAQ: CTAS provides workplace services to businesses and organizations across North America. The company's primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.

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