195,998 Shares in Cintas Co. (NASDAQ:CTAS) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new stake in shares of Cintas Co. (NASDAQ:CTAS) in the third quarter, Holdings Channel reports. The firm acquired 195,998 shares of the business services provider’s stock, valued at approximately $403,520,000.

Other large investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its stake in Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after acquiring an additional 14 shares during the period. Axxcess Wealth Management LLC raised its holdings in shares of Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares in the last quarter. Field & Main Bank lifted its position in shares of Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares during the period. Drive Wealth Management LLC boosted its stake in shares of Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 16 shares in the last quarter. Finally, TIAA Trust National Association increased its holdings in Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after buying an additional 16 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Down 0.3 %

NASDAQ:CTAS opened at $209.13 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $215.86 and a 200-day simple moving average of $189.89. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The company has a market capitalization of $21.22 billion, a P/E ratio of 14.44, a PEG ratio of 4.12 and a beta of 1.32.

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

Cintas declared that its board has initiated a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays increased their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Robert W. Baird raised their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Truist Financial lifted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Company 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.