Oribel Capital Management LP boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 311.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 39,900 shares of the business services provider’s stock after acquiring an additional 30,200 shares during the period. Cintas accounts for approximately 0.8% of Oribel Capital Management LP’s portfolio, making the stock its 21st biggest position. Oribel Capital Management LP’s holdings in Cintas were worth $7,384,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its holdings in Cintas by 0.6% during the 1st quarter. BlackRock Inc. now owns 6,034,965 shares of the business services provider’s stock worth $1,029,443,000 after purchasing an additional 33,547 shares during the period. FMR LLC boosted its position in shares of Cintas by 15.9% during the 2nd quarter. FMR LLC now owns 2,507,776 shares of the business services provider’s stock worth $464,114,000 after acquiring an additional 344,359 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Cintas by 10.5% during the 2nd quarter. Brown Advisory Inc. now owns 1,599,614 shares of the business services provider’s stock worth $296,040,000 after acquiring an additional 151,458 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Cintas by 12.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,297,097 shares of the business services provider’s stock worth $240,054,000 after acquiring an additional 145,128 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Cintas by 23.8% during the 1st quarter. Wells Fargo & Company MN now owns 885,643 shares of the business services provider’s stock worth $151,074,000 after acquiring an additional 170,477 shares in the last quarter. Institutional investors own 68.76% of the company’s stock.
Several research analysts have recently issued reports on the company. Credit Suisse Group assumed coverage on Cintas in a research report on Friday, August 10th. They set a “neutral” rating and a $205.00 price objective for the company. Nomura reaffirmed a “hold” rating and set a $188.00 price objective on shares of Cintas in a research report on Sunday, July 22nd. Barclays upped their price objective on Cintas from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, July 20th. Robert W. Baird reaffirmed a “buy” rating and set a $215.00 price objective on shares of Cintas in a research report on Friday, July 20th. Finally, Stifel Nicolaus upped their price objective on Cintas from $162.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, July 20th. Seven investment 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 company’s stock. Cintas presently has an average rating of “Buy” and a consensus price target of $184.58.
Shares of NASDAQ CTAS opened at $215.54 on Wednesday. The stock has a market capitalization of $22.68 billion, a P/E ratio of 36.29, a PEG ratio of 2.51 and a beta of 0.98. The company has a quick ratio of 2.19, a current ratio of 2.55 and a debt-to-equity ratio of 0.84. Cintas Co. has a 52-week low of $131.75 and a 52-week high of $216.17.
Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, July 19th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.10. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Cintas had a return on equity of 24.03% and a net margin of 13.01%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. research analysts forecast that Cintas Co. will post 7.09 earnings per share for the current fiscal 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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