Trueblood Wealth Management LLC Increases Stake in Cintas Co. (NASDAQ:CTAS)

Trueblood Wealth Management LLC lifted its position in Cintas Co. (NASDAQ:CTAS) by 406.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,390 shares of the business services provider’s stock after acquiring an additional 2,721 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Cintas were worth $698,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CTAS. LGT Financial Advisors LLC boosted its position 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 buying an additional 28 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas during the 1st quarter valued at $29,000. Grove Bank & Trust grew its position in Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTAS. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Jefferies Financial Group decreased their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Down 0.8 %

NASDAQ:CTAS opened at $207.41 on Friday. The firm has a 50 day moving average of $216.20 and a 200 day moving average of $190.02. 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 52 week low of $123.65 and a 52 week high of $215.37. The stock has a market capitalization of $21.04 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating 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 firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business posted $3.70 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 stock buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.