Raymond James Financial Services Advisors Inc. lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 30.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,262 shares of the business services provider’s stock after purchasing an additional 2,626 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cintas were worth $2,084,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CTAS. Moneta Group Investment Advisors LLC acquired a new position in Cintas during the first quarter worth about $114,000. Edge Wealth Management LLC acquired a new position in Cintas during the second quarter worth about $133,000. Synovus Financial Corp acquired a new position in Cintas during the first quarter worth about $141,000. Daiwa SB Investments Ltd. acquired a new position in Cintas during the second quarter worth about $143,000. Finally, CenterStar Asset Management LLC acquired a new position in Cintas during the first quarter worth about $149,000. Institutional investors and hedge funds own 68.12% of the company’s stock.
Shares of CTAS opened at $212.78 on Monday. The stock has a market capitalization of $22.42 billion, a P/E ratio of 35.82, a P/E/G ratio of 2.48 and a beta of 0.96. Cintas Co. has a 1-year low of $130.17 and a 1-year high of $213.10. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.19 and a current ratio of 2.55.
Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 19th. The business services provider reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. equities analysts forecast that Cintas Co. will post 7.09 EPS for the current year.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Cintas from a “buy” rating to a “hold” rating in a report on Monday, May 28th. Morgan Stanley lifted their price target on Cintas from $152.00 to $158.00 and gave the stock a “$192.53” rating in a research note on Wednesday, July 18th. Credit Suisse Group initiated coverage on Cintas in a research note on Friday, August 10th. They issued a “neutral” rating and a $205.00 price target on the stock. Robert W. Baird reissued a “buy” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, July 20th. Finally, Stifel Nicolaus lifted their price target on Cintas from $162.00 to $180.00 and gave the stock a “hold” rating in a research note on Friday, July 20th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Cintas currently has a consensus rating of “Buy” and an average price target of $184.58.
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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