Mcdaniel Terry & Co. Buys 137,220 Shares of Cintas Co. (NASDAQ:CTAS)

Mcdaniel Terry & Co. lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 301.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,673 shares of the business services provider’s stock after acquiring an additional 137,220 shares during the quarter. Cintas makes up 3.1% of Mcdaniel Terry & Co.’s holdings, making the stock its 11th biggest holding. Mcdaniel Terry & Co. owned about 0.18% of Cintas worth $37,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC raised its position in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas during the second quarter worth about $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas during the first quarter worth about $29,000. Meeder Asset Management Inc. raised its position in shares of Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares during the last quarter. Finally, Webster Bank N. A. bought a new position in shares of Cintas during the first quarter worth about $38,000. 63.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CTAS. Royal Bank of Canada raised their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Barclays raised their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus raised their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Down 0.3 %

Shares of Cintas stock opened at $209.13 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $215.37. The stock has a 50 day moving average price of $215.86 and a two-hundred day moving average price of $189.89. The stock has a market capitalization of $21.22 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.70 earnings per share. As a group, equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other 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, as well as sells uniforms.