Sageworth Trust Co Invests $988,000 in Cintas Co. (NASDAQ:CTAS)

Sageworth Trust Co acquired a new stake in shares of Cintas Co. (NASDAQ:CTAS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,800 shares of the business services provider’s stock, valued at approximately $988,000.

A number of other institutional investors have also recently bought and sold shares of the company. Forsta AP Fonden lifted its stake in Cintas by 360.9% in the third quarter. Forsta AP Fonden now owns 112,000 shares of the business services provider’s stock valued at $23,059,000 after buying an additional 87,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cintas by 393.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 127,964 shares of the business services provider’s stock worth $25,894,000 after purchasing an additional 102,050 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Cintas by 284.6% during the third quarter. Louisiana State Employees Retirement System now owns 50,000 shares of the business services provider’s stock worth $10,294,000 after acquiring an additional 37,000 shares in the last quarter. Outlook Wealth Advisors LLC raised its position in Cintas by 321.5% during the third quarter. Outlook Wealth Advisors LLC now owns 1,964 shares of the business services provider’s stock worth $404,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Allworth Financial LP raised its position in Cintas by 201.5% during the third quarter. Allworth Financial LP now owns 5,608 shares of the business services provider’s stock worth $1,155,000 after acquiring an additional 3,748 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 0.8 %

Shares of CTAS stock traded down $1.72 during trading hours on Friday, hitting $207.41. 1,241,806 shares of the company were exchanged, compared to its average volume of 1,463,524. The firm has a market cap of $21.04 billion, a P/E ratio of 14.32, a P/E/G ratio of 4.12 and a beta of 1.32. 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 company has a 50 day simple moving average of $216.20 and a two-hundred day simple moving average of $190.02.

Cintas (NASDAQ:CTAS) last posted its quarterly 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 business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm posted $3.70 EPS. Cintas’s revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has authorized a stock repurchase plan 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on CTAS shares. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective for the company. Morgan Stanley increased their target price 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. Finally, The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two equities 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. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and an average price target of $199.63.

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.