Soltis Investment Advisors LLC Purchases 26,268 Shares of Cintas Corporation $CTAS

Soltis Investment Advisors LLC acquired a new stake in shares of Cintas Corporation (NASDAQ:CTAS) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 26,268 shares of the business services provider’s stock, valued at approximately $5,124,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. BlackRock Inc. purchased a new position in shares of Cintas during the second quarter valued at about $4,520,425,000. Bank of New York Mellon Corp purchased a new stake in shares of Cintas in the second quarter worth about $644,334,000. Legal & General Group Plc purchased a new stake in shares of Cintas in the second quarter worth about $386,159,000. Bank of America Corp DE purchased a new stake in shares of Cintas in the second quarter worth about $233,111,000. Finally, Deutsche Bank AG bought a new position in Cintas during the second quarter valued at approximately $204,831,000. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research analyst reports. Argus raised their price target on Cintas from $230.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Bank of America reaffirmed a “buy” rating and issued a $232.00 price objective on shares of Cintas in a research note on Thursday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cintas in a research report on Thursday, September 10th. Finally, The Goldman Sachs Group increased their target price on Cintas from $231.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $218.62.

Cintas Stock Performance

Cintas stock opened at $218.07 on Friday. The company’s 50-day moving average price is $204.13 and its 200-day moving average price is $190.37. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.68. The company has a quick ratio of 1.29, a current ratio of 1.45 and a debt-to-equity ratio of 0.27. The company has a market cap of $86.59 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 3.37 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the company earned $1.20 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, equities research analysts forecast that Cintas Corporation will post 5.53 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 13th. Cintas’s payout ratio is presently 41.03%.

Cintas Company Profile

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.