Resurgent Financial Advisors LLC Grows Position in Cintas Co. (NASDAQ:CTAS)

Resurgent Financial Advisors LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 232.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,152 shares of the business services provider’s stock after purchasing an additional 1,505 shares during the period. Resurgent Financial Advisors LLC’s holdings in Cintas were worth $443,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. CWM LLC boosted its position in Cintas by 7.3% in the 2nd quarter. CWM LLC now owns 5,470 shares of the business services provider’s stock valued at $3,831,000 after buying an additional 373 shares during the period. Simplicity Wealth LLC boosted its position in Cintas by 0.9% in the 2nd quarter. Simplicity Wealth LLC now owns 3,318 shares of the business services provider’s stock valued at $2,323,000 after buying an additional 29 shares during the period. Wesbanco Bank Inc. purchased a new stake in Cintas in the 2nd quarter valued at about $244,000. Bath Savings Trust Co boosted its position in Cintas by 3.1% in the 2nd quarter. Bath Savings Trust Co now owns 5,885 shares of the business services provider’s stock valued at $4,121,000 after buying an additional 177 shares during the period. Finally, Capital Investment Advisors LLC boosted its position in Cintas by 3.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 573 shares of the business services provider’s stock valued at $401,000 after buying an additional 21 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Morgan Stanley boosted their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their price target 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 investment 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $199.63.

Cintas Trading Up 0.4 %

Shares of Cintas stock opened at $223.60 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $228.12. The firm has a market capitalization of $90.18 billion, a price-to-earnings ratio of 56.46, a PEG ratio of 4.38 and a beta of 1.33. The firm’s 50 day simple moving average is $213.82 and its two-hundred day simple moving average is $200.11.

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

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

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.