McAdam LLC Purchases 3,322 Shares of Cintas Co. (NASDAQ:CTAS)

McAdam LLC increased its position in Cintas Co. (NASDAQ:CTAS) by 305.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,408 shares of the business services provider’s stock after buying an additional 3,322 shares during the period. McAdam LLC’s holdings in Cintas were worth $908,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Alecta Tjanstepension Omsesidigt lifted its stake in Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares in the last quarter. Legal & General Group Plc lifted its stake in Cintas by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after purchasing an additional 3,471 shares in the last quarter. Nordea Investment Management AB lifted its stake in Cintas by 6.3% in the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after purchasing an additional 37,727 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Cintas by 300.0% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after purchasing an additional 486,500 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CTAS shares. Truist Financial boosted their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Redburn Atlantic began coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. UBS Group upped their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, The Goldman Sachs Group increased their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Down 0.3 %

NASDAQ CTAS opened at $209.13 on Friday. The company has a fifty day simple moving average of $215.86 and a two-hundred day simple moving average of $189.89. The stock has a market cap of $21.22 billion, a P/E ratio of 14.44, a P/E/G 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. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

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, 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 during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company posted $3.70 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has approved a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are 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.