Private Advisor Group LLC Sells 5,540 Shares of Cintas Corporation (NASDAQ:CTAS)

Private Advisor Group LLC cut its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 18.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,261 shares of the business services provider's stock after selling 5,540 shares during the period. Private Advisor Group LLC's holdings in Cintas were worth $4,986,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTAS. Meeder Asset Management Inc. raised its stake in 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 buying an additional 134 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in Cintas by 646.4% during the 1st 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 in the last quarter. Washington Trust Advisors Inc. acquired a new position in shares of Cintas during the 1st quarter worth about $46,000. Olde Wealth Management LLC purchased a new stake in Cintas during the 1st quarter valued at approximately $55,000. Finally, Physician Wealth Advisors Inc. acquired a new position in Cintas during the 4th quarter worth approximately $59,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Down 0.3%

CTAS opened at $221.32 on Tuesday. The company has a 50 day moving average of $220.99 and a 200 day moving average of $208.40. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The company has a market cap of $89.37 billion, a PE ratio of 50.19, a price-to-earnings-growth ratio of 3.50 and a beta of 1.05. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24.

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 the consensus estimate of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same period in the previous year, the company earned $3.99 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTAS. Morgan Stanley boosted their price objective on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday. Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Argus raised shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target for the company. Finally, Bank of America began coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $224.54.

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.

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