SRN Advisors LLC Has $1.91 Million Holdings in Cintas Co. (NASDAQ:CTAS)

SRN Advisors LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 284.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,288 shares of the business services provider’s stock after purchasing an additional 6,875 shares during the quarter. Cintas accounts for approximately 1.7% of SRN Advisors LLC’s investment portfolio, making the stock its 15th largest position. SRN Advisors LLC’s holdings in Cintas were worth $1,912,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CTAS. Checchi Capital Advisers LLC lifted its holdings in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after acquiring an additional 14 shares during the period. Axxcess Wealth Management LLC lifted its stake in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank boosted its holdings in shares of Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares in the last quarter. Drive Wealth Management LLC increased its stake in shares of Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 16 shares during the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after buying an additional 16 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTAS. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. UBS Group raised 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. Finally, The Goldman Sachs Group increased their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Cintas stock opened at $207.41 on Friday. 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. The stock’s 50 day moving average is $216.53 and its 200 day moving average is $190.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a one year low of $123.65 and a one year high of $215.37.

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

Cintas declared that its Board of Directors has initiated a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign 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.