Edgestream Partners L.P. Makes New $4.42 Million Investment in Cintas Corporation (NASDAQ:CTAS)

Edgestream Partners L.P. purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,523 shares of the business services provider's stock, valued at approximately $4,424,000.

Other large investors have also recently made changes to their positions in the company. Cyrus J. Lawrence LLC purchased a new position in shares of Cintas during the fourth quarter worth approximately $29,000. Meeder Asset Management Inc. grew its holdings 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 worth $35,000 after purchasing an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings 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 worth $43,000 after purchasing an additional 181 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Cintas in the fourth quarter worth approximately $40,000. Finally, Washington Trust Advisors Inc. bought a new position in shares of Cintas in the first quarter worth approximately $46,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of Cintas stock opened at $213.24 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $86.10 billion, a P/E ratio of 49.39, a P/E/G ratio of 3.38 and a beta of 1.05. The business has a fifty day simple moving average of $220.73 and a two-hundred day simple moving average of $207.46. Cintas Corporation has a 12 month low of $178.88 and a 12 month high of $229.24.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTAS. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. began coverage on shares of Cintas in a report on Monday. They issued an "overweight" rating and a $239.00 target price on the stock. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. The Goldman Sachs Group raised their price target on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price target (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $220.96.

Cintas 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.