BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Cintas (NASDAQ:CTAS) by 37.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 32,891 shares of the business services provider’s stock after purchasing an additional 8,912 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cintas were worth $5,125,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in CTAS. Northwestern Mutual Wealth Management Co. raised its holdings in Cintas by 61.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 941 shares of the business services provider’s stock valued at $147,000 after acquiring an additional 357 shares during the period. Two Sigma Securities LLC bought a new stake in Cintas during the fourth quarter valued at about $204,000. Novare Capital Management LLC bought a new stake in Cintas during the fourth quarter valued at about $206,000. IFM Investors Pty Ltd bought a new stake in Cintas during the third quarter valued at about $210,000. Finally, IBM Retirement Fund bought a new stake in Cintas during the fourth quarter valued at about $211,000. 66.56% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Cintas from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Goldman Sachs started coverage on Cintas in a research report on Tuesday, March 27th. They set a “conviction-buy” rating and a $210.00 price objective for the company. ValuEngine upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Morgan Stanley raised their price objective on Cintas from $130.00 to $151.00 and gave the company an “underweight” rating in a research report on Wednesday, January 31st. Finally, BidaskClub upgraded Cintas from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Cintas has an average rating of “Buy” and an average price target of $168.55.
Shares of Cintas stock opened at $170.58 on Friday. The stock has a market cap of $18,197.64, a PE ratio of 37.66, a PEG ratio of 2.44 and a beta of 0.88. The company has a quick ratio of 1.85, a current ratio of 2.15 and a debt-to-equity ratio of 0.88. Cintas has a twelve month low of $119.54 and a twelve month high of $178.34.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, March 22nd. The business services provider reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.10. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Cintas had a return on equity of 22.86% and a net margin of 11.69%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. analysts anticipate that Cintas will post 5.82 earnings per share for the current fiscal year.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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