CENTRAL TRUST Co Has $857,000 Stock Position in Cintas Co. (NASDAQ:CTAS)

CENTRAL TRUST Co grew its holdings in Cintas Co. (NASDAQ:CTAS) by 243.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,164 shares of the business services provider’s stock after acquiring an additional 2,952 shares during the quarter. CENTRAL TRUST Co’s holdings in Cintas were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its stake in Cintas by 300.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 39,312 shares of the business services provider’s stock valued at $8,094,000 after purchasing an additional 29,501 shares during the last quarter. Romano Brothers AND Company raised its position in shares of Cintas by 300.0% during the third quarter. Romano Brothers AND Company now owns 4,360 shares of the business services provider’s stock valued at $898,000 after buying an additional 3,270 shares during the last quarter. Great Lakes Retirement Inc. lifted its stake in shares of Cintas by 300.0% in the third quarter. Great Lakes Retirement Inc. now owns 3,324 shares of the business services provider’s stock valued at $684,000 after buying an additional 2,493 shares during the period. Brighton Jones LLC acquired a new stake in Cintas during the third quarter worth about $239,000. Finally, International Assets Investment Management LLC bought a new position in Cintas during the third quarter valued at about $403,520,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CTAS shares. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Jefferies Financial Group lowered their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Finally, Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of CTAS stock opened at $207.41 on Friday. The stock has a 50-day moving average price of $216.20 and a 200 day moving average price of $190.02. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $21.04 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm earned $3.70 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its Board of Directors has approved a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.