Cintas Co. (NASDAQ:CTAS) Shares Bought by Creative Planning

Creative Planning grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 356.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,354 shares of the business services provider’s stock after acquiring an additional 69,003 shares during the period. Creative Planning’s holdings in Cintas were worth $18,190,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Wesbanco Bank Inc. grew its stake in shares of Cintas by 283.4% during the third quarter. Wesbanco Bank Inc. now owns 1,338 shares of the business services provider’s stock valued at $275,000 after acquiring an additional 989 shares in the last quarter. CX Institutional grew its stake in shares of Cintas by 308.1% during the third quarter. CX Institutional now owns 1,975 shares of the business services provider’s stock valued at $407,000 after acquiring an additional 1,491 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares in the last quarter. ORG Partners LLC grew its stake in shares of Cintas by 17.8% during the third quarter. ORG Partners LLC now owns 1,613 shares of the business services provider’s stock valued at $332,000 after acquiring an additional 244 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Cintas during the third quarter valued at about $736,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Morgan Stanley lifted their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. 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. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

CTAS opened at $211.55 on Tuesday. The business’s 50 day moving average is $215.04 and its 200-day moving average is $189.44. The stock has a market cap of $21.46 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $215.37.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 earnings per share. On average, analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has approved a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Cintas Company Profile

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.