Parallel Advisors LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 12.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,489 shares of the business services provider’s stock after acquiring an additional 170 shares during the quarter. Parallel Advisors LLC’s holdings in Cintas were worth $353,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CTAS. Dimensional Fund Advisors LP raised its holdings in shares of Cintas by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 451,053 shares of the business services provider’s stock worth $75,772,000 after purchasing an additional 13,371 shares during the last quarter. Geode Capital Management LLC grew its position in Cintas by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 1,168,562 shares of the business services provider’s stock valued at $195,972,000 after buying an additional 66,402 shares during the period. Pennsylvania Trust Co grew its position in Cintas by 12.0% during the first quarter. Pennsylvania Trust Co now owns 21,972 shares of the business services provider’s stock valued at $4,441,000 after buying an additional 2,352 shares during the period. Oakbrook Investments LLC acquired a new stake in Cintas during the first quarter valued at $237,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in Cintas during the first quarter valued at $36,000. 68.31% of the stock is currently owned by institutional investors.
Several analysts recently commented on CTAS shares. BidaskClub upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Morgan Stanley raised their price target on shares of Cintas from $184.00 to $202.00 and gave the company an “underweight” rating in a research report on Wednesday, July 17th. Bank of America restated a “buy” rating and set a $287.00 price target (up previously from $261.00) on shares of Cintas in a research report on Tuesday, August 13th. Royal Bank of Canada raised their price target on shares of Cintas to $267.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Nomura raised their price target on shares of Cintas from $217.00 to $248.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $241.44.
Shares of NASDAQ CTAS traded down $1.15 during trading on Friday, hitting $263.37. The company had a trading volume of 1,940 shares, compared to its average volume of 514,452. The stock has a fifty day simple moving average of $255.99 and a two-hundred day simple moving average of $224.78. Cintas Co. has a fifty-two week low of $155.98 and a fifty-two week high of $270.36. The firm has a market capitalization of $27.45 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 3.11 and a beta of 0.99. The company has a quick ratio of 1.69, a current ratio of 1.98 and a debt-to-equity ratio of 0.85.
Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, July 16th. The business services provider reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.13. Cintas had a net margin of 12.80% and a return on equity of 26.77%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Cintas Co. will post 8.45 earnings per share for the current 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 and First Aid and Safety Services 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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