HWG Holdings LP Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

HWG Holdings LP increased its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 3,346.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,922 shares of the business services provider's stock after purchasing an additional 19,344 shares during the period. Cintas accounts for approximately 1.4% of HWG Holdings LP's portfolio, making the stock its 21st largest position. HWG Holdings LP's holdings in Cintas were worth $4,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning boosted its stake in Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider's stock valued at $13,551,000 after acquiring an additional 4,957 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock valued at $22,976,000 after acquiring an additional 86,460 shares in the last quarter. Western Financial Corp CA boosted its stake in Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider's stock valued at $2,429,000 after acquiring an additional 10,177 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Cintas by 2,063.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider's stock valued at $16,666,000 after acquiring an additional 22,700 shares in the last quarter. Finally, Searle & CO. boosted its stake in Cintas by 300.0% in the third quarter. Searle & CO. now owns 7,200 shares of the business services provider's stock valued at $1,482,000 after acquiring an additional 5,400 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Ratings Changes

CTAS has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, September 26th. UBS Group upped their target price on shares of Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their target price on shares of Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a "neutral" rating and a $167.50 target price for the company. Finally, Royal Bank of Canada upped their target price on shares of Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of "Hold" and an average target price of $199.63.

Cintas Price Performance

Cintas stock traded down $1.72 during mid-day trading on Friday, reaching $207.41. The company had a trading volume of 1,241,571 shares, compared to its average volume of 1,463,524. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The company has a market capitalization of $21.04 billion, a P/E ratio of 14.38, a P/E/G ratio of 4.12 and a beta of 1.32. The stock's 50-day simple moving average is $216.20 and its 200-day simple moving average is $190.02.

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

Cintas declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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.