Cintas Co. (NASDAQ:CTAS) Stock Position Raised by First American Bank

First American Bank lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 296.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,180 shares of the business services provider’s stock after purchasing an additional 71,933 shares during the period. Cintas makes up about 1.4% of First American Bank’s holdings, making the stock its 18th biggest position. First American Bank’s holdings in Cintas were worth $19,802,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTAS. LGT Financial Advisors LLC boosted its position in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the period. Financial Management Professionals Inc. increased its holdings in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Atwood & Palmer Inc. acquired a new stake in shares of Cintas during the second quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas during the first quarter valued at approximately $29,000. Finally, Grove Bank & Trust lifted 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 worth $30,000 after buying an additional 134 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several recent research reports. Truist Financial increased their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley raised 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. Finally, UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cintas has an average rating of “Hold” and an average price target of $199.63.

Cintas Trading Down 0.8 %

Shares of Cintas stock opened at $207.41 on Monday. The company’s fifty day simple moving average is $216.53 and its 200-day simple moving average is $190.59. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 4.12 and a beta of 1.32. 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 1 year low of $123.65 and a 1 year high of $215.37.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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 analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.70 earnings per share. As a group, sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has authorized a share repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.