Moneta Group Investment Advisors LLC increased its position in Cintas Co. (NASDAQ:CTAS) by 105.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,375 shares of the business services provider’s stock after purchasing an additional 705 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Cintas were worth $254,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Fort L.P. bought a new position in shares of Cintas during the second quarter valued at $118,000. Edge Wealth Management LLC bought a new position in shares of Cintas during the second quarter valued at $133,000. Synovus Financial Corp bought a new position in shares of Cintas during the first quarter valued at $141,000. Daiwa SB Investments Ltd. bought a new position in shares of Cintas during the second quarter valued at $143,000. Finally, McKinley Carter Wealth Services Inc. bought a new position in shares of Cintas during the first quarter valued at $149,000. 68.76% of the stock is owned by hedge funds and other institutional investors.
Cintas stock opened at $214.48 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.55 and a quick ratio of 2.19. Cintas Co. has a 12-month low of $133.70 and a 12-month high of $217.34. The stock has a market capitalization of $22.63 billion, a P/E ratio of 36.11, a price-to-earnings-growth ratio of 2.50 and a beta of 0.98.
Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 19th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.10. Cintas had a return on equity of 24.03% and a net margin of 13.01%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts predict that Cintas Co. will post 7.09 EPS for the current fiscal year.
A number of research analysts have issued reports on CTAS shares. Zacks Investment Research raised Cintas from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a report on Wednesday, May 23rd. Morgan Stanley lifted their price objective on Cintas from $152.00 to $158.00 and gave the company a “$192.53” rating in a report on Wednesday, July 18th. Stifel Nicolaus lifted their price objective on Cintas from $162.00 to $180.00 and gave the company a “hold” rating in a report on Friday, July 20th. Robert W. Baird reissued a “buy” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, July 20th. Finally, Barclays lifted their price objective on Cintas from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $186.25.
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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