Lake Street Advisors Group LLC Boosts Stake in Cintas Co. (NASDAQ:CTAS)

Lake Street Advisors Group LLC grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 299.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,906 shares of the business services provider’s stock after buying an additional 1,429 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Cintas were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of CTAS. Alecta Tjanstepension Omsesidigt grew 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 valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. SG Americas Securities LLC grew its position in Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after buying an additional 486,500 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in Cintas by 300.0% during the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after buying an additional 383,124 shares during the last quarter. Raymond James & Associates raised its position in Cintas by 305.4% in the third quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock worth $99,660,000 after acquiring an additional 364,659 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in Cintas by 123.1% in the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after acquiring an additional 201,955 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of research reports. Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Jefferies Financial Group dropped their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Truist Financial lifted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, UBS Group lifted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Down 0.8 %

CTAS stock opened at $207.41 on Friday. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $216.53 and its 200 day moving average is $190.28.

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

Cintas declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors 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.