Cornerstone Advisors Inc. cut its position in shares of Cintas Co. (NASDAQ:CTAS) by 36.5% in the second quarter, Holdings Channel reports. The institutional investor owned 219 shares of the business services provider’s stock after selling 126 shares during the period. Cornerstone Advisors Inc.’s holdings in Cintas were worth $58,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Fenimore Asset Management Inc. bought a new position in shares of Cintas during the second quarter worth about $1,598,000. First Quadrant L P CA bought a new position in shares of Cintas during the second quarter worth about $340,000. Pinnacle Financial Partners Inc. bought a new position in Cintas in the second quarter valued at approximately $398,000. Hallmark Capital Management Inc. bought a new position in Cintas in the second quarter valued at approximately $301,000. Finally, CIBC Asset Management Inc grew its stake in Cintas by 565.4% in the second quarter. CIBC Asset Management Inc now owns 93,691 shares of the business services provider’s stock valued at $24,955,000 after purchasing an additional 79,611 shares in the last quarter. Institutional investors and hedge funds own 63.51% of the company’s stock.
A number of research firms have recently issued reports on CTAS. William Blair cut Cintas from an “outperform” rating to a “market perform” rating in a research report on Monday, April 6th. Zacks Investment Research cut Cintas from a “hold” rating to a “sell” rating and set a $240.00 price objective for the company. in a research report on Friday, May 15th. Jefferies Financial Group raised their price objective on Cintas from $302.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Oppenheimer reaffirmed a “hold” rating on shares of Cintas in a research report on Sunday, July 26th. Finally, BidaskClub raised Cintas from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $263.70.
NASDAQ:CTAS opened at $301.87 on Friday. The stock has a market cap of $31.24 billion, a P/E ratio of 37.27, a PEG ratio of 3.85 and a beta of 1.44. The stock has a 50 day simple moving average of $274.99 and a 200 day simple moving average of $251.04. The company has a current ratio of 2.61, a quick ratio of 2.15 and a debt-to-equity ratio of 0.82. Cintas Co. has a 1-year low of $154.33 and a 1-year high of $311.02.
Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 23rd. The business services provider reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.13. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Cintas had a return on equity of 27.57% and a net margin of 12.36%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period last year, the firm posted $2.07 EPS. As a group, sell-side analysts forecast that Cintas Co. will post 8.14 EPS for the current year.
Cintas Company Profile
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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