Cintas Co. (NASDAQ:CTAS) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. increased its position in Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, HoldingsChannel.com reports. The fund owned 3,332 shares of the business services provider’s stock after buying an additional 2,499 shares during the period. Whittier Trust Co.’s holdings in Cintas were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in Cintas by 12.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after buying an additional 58 shares during the last quarter. RFG Advisory LLC purchased a new position in shares of Cintas during the first quarter worth $228,000. Sunbelt Securities Inc. grew its position in Cintas by 233.3% during the 1st quarter. Sunbelt Securities Inc. now owns 90 shares of the business services provider’s stock worth $62,000 after purchasing an additional 63 shares during the period. Brookstone Capital Management purchased a new position in shares of Cintas during the 1st quarter valued at about $233,000. Finally, GoalVest Advisory LLC lifted its holdings in shares of Cintas by 74.2% in the 1st quarter. GoalVest Advisory LLC now owns 270 shares of the business services provider’s stock valued at $185,000 after buying an additional 115 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTAS. Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, Redburn Atlantic started coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Trading Down 0.9 %

Shares of CTAS stock opened at $209.71 on Thursday. Cintas Co. has a fifty-two week low of $123.65 and a fifty-two week high of $215.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock’s fifty day moving average is $215.86 and its two-hundred day moving average is $189.89. The firm has a market capitalization of $21.28 billion, a P/E ratio of 14.48, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping 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 firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm posted $3.70 earnings per share. 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 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has approved a share buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

About Cintas

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.