State Treasurer State of Michigan lowered its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,267 shares of the business services provider’s stock after selling 4,100 shares during the period. State Treasurer State of Michigan owned 0.17% of Cintas worth $42,776,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Financial Gravity Wealth Inc. acquired a new stake in shares of Cintas in the first quarter worth approximately $36,000. CWM LLC lifted its holdings in Cintas by 52.4% in the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after purchasing an additional 66 shares during the period. Sonora Investment Management LLC acquired a new stake in Cintas in the second quarter worth about $42,000. Washington Trust Bank acquired a new stake in Cintas in the first quarter worth about $45,000. Finally, Lenox Wealth Management Inc. lifted its holdings in Cintas by 20.5% in the second quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock worth $55,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 68.23% of the company’s stock.
Several research firms recently weighed in on CTAS. Nomura upped their price objective on shares of Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Zacks Investment Research upgraded Cintas from a “hold” rating to a “buy” rating and set a $273.00 price objective on the stock in a report on Thursday, July 18th. Morgan Stanley boosted their price objective on Cintas from $184.00 to $202.00 and gave the stock an “underweight” rating in a report on Wednesday, July 17th. William Blair restated a “buy” rating on shares of Cintas in a report on Thursday, June 20th. Finally, Credit Suisse Group boosted their price objective on Cintas from $160.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $228.06.
NASDAQ:CTAS traded up $5.75 during mid-day trading on Tuesday, reaching $256.87. The stock had a trading volume of 278,233 shares, compared to its average volume of 629,518. The company has a 50 day moving average of $246.20. Cintas Co. has a fifty-two week low of $155.98 and a fifty-two week high of $264.29. The company has a market cap of $26.48 billion, a PE ratio of 33.80, a P/E/G ratio of 3.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.69 and a current ratio of 1.98.
Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, July 16th. The business services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.13. Cintas had a return on equity of 26.77% and a net margin of 12.80%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Research analysts predict that Cintas Co. will post 8.45 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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