Summit Global Investments raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 396.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 5,576 shares of the business services provider’s stock after purchasing an additional 4,452 shares during the quarter. Summit Global Investments’ holdings in Cintas were worth $943,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CTAS. One Capital Management LLC boosted its position in Cintas by 0.9% during the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock worth $1,159,000 after acquiring an additional 53 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in Cintas by 1.1% in the 4th quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock valued at $951,000 after acquiring an additional 54 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Cintas by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock worth $1,236,000 after purchasing an additional 58 shares in the last quarter. Woodward Diversified Capital LLC boosted its holdings in shares of Cintas by 4.8% during the 4th quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock worth $242,000 after purchasing an additional 59 shares during the last quarter. Finally, Mather Group LLC. grew its position in shares of Cintas by 1.4% in the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock valued at $824,000 after purchasing an additional 59 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CTAS. Citigroup lowered their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research report on Thursday, July 16th. Argus upgraded shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.31.
Cintas Stock Down 0.7%
NASDAQ:CTAS opened at $200.41 on Wednesday. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The stock’s fifty day moving average is $177.04 and its two-hundred day moving average is $182.97. The stock has a market capitalization of $80.18 billion, a price-to-earnings ratio of 56.61, a price-to-earnings-growth ratio of 3.26 and a beta of 0.94. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28.
Cintas (NASDAQ:CTAS – Get Free Report) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.Cintas’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Research analysts anticipate that Cintas Corporation will post 5.49 EPS for the current year.
Cintas Company Profile
Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
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