Busey Bank Acquires 931 Shares of Cintas Co. (NASDAQ:CTAS)

Busey Bank grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 309.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,232 shares of the business services provider’s stock after purchasing an additional 931 shares during the quarter. Busey Bank’s holdings in Cintas were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. Sunbelt Securities Inc. boosted its position in Cintas by 233.3% during the first quarter. Sunbelt Securities Inc. now owns 90 shares of the business services provider’s stock worth $62,000 after purchasing an additional 63 shares during the period. Brookstone Capital Management bought a new position in shares of Cintas in the first quarter valued at approximately $233,000. Wealthcare Advisory Partners LLC boosted its position in shares of Cintas by 9.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,072 shares of the business services provider’s stock valued at $737,000 after acquiring an additional 90 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Cintas by 1.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,908 shares of the business services provider’s stock valued at $20,548,000 after acquiring an additional 469 shares during the period. Finally, 180 Wealth Advisors LLC bought a new position in shares of Cintas in the first quarter valued at approximately $216,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.8 %

CTAS stock opened at $207.41 on Friday. The company has a market capitalization of $21.04 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. Cintas Co. has a one year low of $123.65 and a one year high of $215.37. The company’s 50 day moving average price is $216.20 and its two-hundred day moving average price is $190.02. 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 (NASDAQ:CTAS) last posted its quarterly 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm posted $3.70 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on CTAS shares. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Royal Bank of Canada raised their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group raised their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas has a consensus rating of “Hold” and an average price target of $199.63.

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.