Cintas Co. (NASDAQ:CTAS) Holdings Lifted by Bristlecone Advisors LLC

Bristlecone Advisors LLC boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 288.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,458 shares of the business services provider’s stock after acquiring an additional 18,163 shares during the quarter. Bristlecone Advisors LLC’s holdings in Cintas were worth $5,035,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. bought a new position in Cintas in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas during the 1st quarter valued at about $29,000. Grove Bank & Trust raised its position in shares of Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after buying an additional 134 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent analyst reports. 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. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group raised their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group boosted their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, 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 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

CTAS opened at $207.41 on Friday. The firm has a market capitalization of $21.04 billion, a P/E ratio of 14.32, a PEG ratio of 4.12 and a beta of 1.32. The stock has a fifty day moving average of $216.53 and a 200-day moving average of $190.43. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $215.37.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data 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. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.70 EPS. Equities analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.