Cintas Co. (NASDAQ:CTAS) Stock Position Increased by Maple Capital Management Inc.

Maple Capital Management Inc. lifted its position in Cintas Co. (NASDAQ:CTAS) by 303.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,352 shares of the business services provider’s stock after buying an additional 1,769 shares during the period. Maple Capital Management Inc.’s holdings in Cintas were worth $484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Cintas by 12.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after purchasing an additional 58 shares during the period. RFG Advisory LLC purchased a new stake in shares of Cintas during the first quarter valued at $228,000. Harbor Investment Advisory LLC lifted its holdings in shares of Cintas by 5.4% during the first quarter. Harbor Investment Advisory LLC now owns 349 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 18 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Cintas during the first quarter valued at $57,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Cintas by 233.3% during the first quarter. Sunbelt Securities Inc. now owns 90 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $210.30 on Tuesday. 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 fifty-two week low of $123.65 and a fifty-two week high of $215.37. The stock’s 50-day moving average is $215.04 and its two-hundred day moving average is $189.44. The firm has a market cap of $21.34 billion, a P/E ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. 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 business’s revenue was up 6.8% compared to the same quarter last year. Analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has approved a share buyback 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 buy up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

CTAS has been the subject of several analyst reports. Barclays upped their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Stifel Nicolaus upped their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada increased 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $199.63.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the transaction, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 15.10% of the company’s stock.

Cintas Company 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.