Sequoia Financial Advisors LLC Has $1.19 Million Position in Cintas Co. (NASDAQ:CTAS)

Sequoia Financial Advisors LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 349.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,767 shares of the business services provider’s stock after purchasing an additional 4,485 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cintas were worth $1,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in shares of Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares during the period. Creative Planning increased its position in shares of Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 4,957 shares in the last quarter. Western Financial Corp CA raised its holdings in shares of Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after acquiring an additional 10,177 shares during the period. Susquehanna Fundamental Investments LLC raised its holdings in shares of Cintas by 2,063.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after acquiring an additional 22,700 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after purchasing an additional 838 shares during the period. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTAS shares. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial raised their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Redburn Atlantic started coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Finally, Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

NASDAQ:CTAS opened at $207.41 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $215.37. The stock’s 50 day moving average price is $216.20 and its two-hundred day moving average price is $190.02. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.70 earnings per share. On average, analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Cintas

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.