Cintas Co. (NASDAQ:CTAS) Shares Bought by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 81,014.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,879 shares of the business services provider’s stock after purchasing an additional 34,836 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Cintas were worth $7,181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after purchasing an additional 86,460 shares during the period. Creative Planning raised its stake in shares of Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after buying an additional 4,957 shares in the last quarter. Western Financial Corp CA lifted its holdings in shares of Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after buying an additional 10,177 shares during the period. Susquehanna Fundamental Investments LLC boosted its stake in Cintas by 2,063.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock valued at $16,666,000 after buying an additional 22,700 shares in the last quarter. Finally, Searle & CO. grew its holdings in Cintas by 300.0% during the third quarter. Searle & CO. now owns 7,200 shares of the business services provider’s stock worth $1,482,000 after acquiring an additional 5,400 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group upped their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Down 0.8 %

Shares of CTAS traded down $1.72 during midday trading on Friday, reaching $207.41. 1,241,806 shares of the stock were exchanged, compared to its average volume of 1,463,524. The company has a market cap of $21.04 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 4.12 and a beta of 1.32. The firm has a 50 day simple moving average of $216.53 and a 200-day simple moving average of $190.28. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $215.37. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 earnings per share. Research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has initiated a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is 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.