Castleark Management LLC Acquires Shares of 2,960 Cintas Corporation $CTAS

Castleark Management LLC acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, Holdings Channel reports. The fund acquired 2,960 shares of the business services provider’s stock, valued at approximately $503,000.

Several other institutional investors have also recently made changes to their positions in the company. One Capital Management LLC lifted its position in shares of Cintas by 0.9% during the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after purchasing an additional 53 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Cintas by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock worth $1,236,000 after purchasing an additional 58 shares in the last quarter. Sachetta LLC increased its stake in Cintas by 46.0% in the 1st quarter. Sachetta LLC now owns 200 shares of the business services provider’s stock valued at $34,000 after buying an additional 63 shares during the last quarter. Ausdal Financial Partners Inc. increased its stake in Cintas by 2.8% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock valued at $510,000 after buying an additional 63 shares during the last quarter. Finally, Elyxium Wealth LLC lifted its position in shares of Cintas by 4.9% during the 4th quarter. Elyxium Wealth LLC now owns 1,368 shares of the business services provider’s stock worth $257,000 after buying an additional 64 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $205.78 on Thursday. The firm has a market cap of $82.35 billion, a price-to-earnings ratio of 55.02, a P/E/G ratio of 3.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The firm’s 50-day simple moving average is $193.10 and its two-hundred day simple moving average is $185.32.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 55.61%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group restated a “buy” rating and issued a $230.00 target price (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Robert W. Baird boosted their price objective on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Argus upgraded Cintas to a “strong-buy” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cintas presently has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.