Lineweaver Wealth Advisors LLC bought a new position in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, HoldingsChannel reports. The fund bought 937 shares of the business services provider’s stock, valued at approximately $252,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of CTAS. Usca Ria LLC purchased a new position in shares of Cintas during the third quarter valued at approximately $27,000. Signaturefd LLC raised its holdings in shares of Cintas by 55.8% during the third quarter. Signaturefd LLC now owns 148 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 53 shares during the last quarter. Evoke Wealth LLC purchased a new position in shares of Cintas during the third quarter valued at approximately $45,000. Atlas Capital Advisors LLC purchased a new position in shares of Cintas during the third quarter valued at approximately $54,000. Finally, Captrust Financial Advisors raised its holdings in shares of Cintas by 254.1% during the second quarter. Captrust Financial Advisors now owns 262 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 66.02% of the company’s stock.
Several research analysts have recently weighed in on CTAS shares. Robert W. Baird reissued a “buy” rating and set a $300.00 price objective on shares of Cintas in a report on Wednesday, November 13th. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Thursday, September 26th. BidaskClub raised shares of Cintas from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating in a report on Friday, January 3rd. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $223.00 to $235.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Cintas has an average rating of “Buy” and an average target price of $274.18.
Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, December 17th. The business services provider reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.24. Cintas had a net margin of 12.99% and a return on equity of 30.04%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, research analysts expect that Cintas Co. will post 8.79 EPS for the current fiscal year.
Cintas announced that its Board of Directors has approved a share buyback plan on Tuesday, October 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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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