GWM Advisors LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 289.3% in the second quarter, HoldingsChannel reports. The fund owned 10,277 shares of the business services provider’s stock after buying an additional 7,637 shares during the quarter. GWM Advisors LLC’s holdings in Cintas were worth $2,738,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its stake in Cintas by 0.3% during the first quarter. State Street Corp now owns 3,874,721 shares of the business services provider’s stock worth $671,179,000 after buying an additional 10,706 shares during the period. Geode Capital Management LLC lifted its holdings in Cintas by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 1,573,911 shares of the business services provider’s stock worth $272,187,000 after buying an additional 13,941 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in Cintas by 1.4% in the 2nd quarter. Congress Asset Management Co. MA now owns 733,877 shares of the business services provider’s stock worth $195,475,000 after buying an additional 9,801 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Cintas by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 666,398 shares of the business services provider’s stock worth $115,434,000 after buying an additional 19,538 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Cintas by 4.9% in the 1st quarter. Legal & General Group Plc now owns 663,526 shares of the business services provider’s stock worth $115,233,000 after purchasing an additional 30,786 shares during the last quarter. 63.51% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on CTAS shares. Morgan Stanley boosted their target price on shares of Cintas from $190.00 to $207.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. Royal Bank of Canada boosted their price objective on shares of Cintas from $318.00 to $347.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Oppenheimer reaffirmed a “hold” rating on shares of Cintas in a research report on Sunday, July 26th. Bank of America downgraded shares of Cintas from a “buy” rating to a “neutral” rating and set a $255.00 price objective for the company. in a research report on Wednesday, May 27th. They noted that the move was a valuation call. Finally, William Blair cut shares of Cintas from an “outperform” rating to a “market perform” rating in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $263.70.
Shares of NASDAQ:CTAS opened at $301.87 on Friday. The company has a 50 day moving average of $274.99 and a 200-day moving average of $251.04. The firm has a market cap of $31.24 billion, a P/E ratio of 37.27, a P/E/G ratio of 3.85 and a beta of 1.44. Cintas Co. has a twelve month low of $154.33 and a twelve month high of $311.02. The company has a current ratio of 2.61, a quick ratio of 2.15 and a debt-to-equity ratio of 0.82.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, July 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.13. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.56 billion. Cintas had a net margin of 12.36% and a return on equity of 27.57%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 EPS. Equities research analysts forecast that Cintas Co. will post 8.14 EPS 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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