Wealth Enhancement Advisory Services LLC Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Wealth Enhancement Advisory Services LLC grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 437.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 162,127 shares of the business services provider’s stock after buying an additional 131,946 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Cintas were worth $33,379,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CTAS. Alecta Tjanstepension Omsesidigt grew its holdings in shares of Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after purchasing an additional 486,500 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Cintas by 300.0% during the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Cintas by 305.4% during the third quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock worth $99,660,000 after purchasing an additional 364,659 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.8 %

Shares of CTAS stock opened at $207.41 on Monday. The business’s fifty day moving average price is $216.53 and its 200 day moving average price is $190.59. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37. The firm has a market capitalization of $21.04 billion, a PE ratio of 14.32, a P/E/G ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 earnings per share. As a group, sell-side analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its board has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on CTAS shares. Robert W. Baird raised their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. The Goldman Sachs Group increased their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus upped their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas 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.