My Legacy Advisors LLC Buys 6,898 Shares of Cintas Co. (NASDAQ:CTAS)

My Legacy Advisors LLC increased its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 212.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,141 shares of the business services provider's stock after acquiring an additional 6,898 shares during the quarter. My Legacy Advisors LLC's holdings in Cintas were worth $2,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTAS. LGT Financial Advisors LLC grew its stake in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Cintas in the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas in the 1st quarter valued at $29,000. Meeder Asset Management Inc. boosted its stake in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider's stock worth $34,000 after acquiring an additional 34 shares in the last quarter. Finally, Webster Bank N. A. bought a new position in Cintas during the first quarter worth $38,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their target price on Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research report on Thursday, September 26th. Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a research report on Thursday, September 26th. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Barclays upped their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Finally, Robert W. Baird lifted their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $199.63.

Cintas Stock Performance

Cintas stock traded down $0.01 during trading on Tuesday, hitting $211.54. The stock had a trading volume of 1,053,539 shares, compared to its average volume of 1,470,441. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock's 50 day moving average is $215.04 and its two-hundred day moving average is $189.44. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37. The stock has a market cap of $21.46 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.70 EPS. As a group, analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has authorized a share buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire 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.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.10% of the company's stock.

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.