Cintas Co. (NASDAQ:CTAS) Shares Purchased by SRN Advisors LLC

SRN Advisors LLC boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 284.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,288 shares of the business services provider's stock after purchasing an additional 6,875 shares during the period. Cintas comprises approximately 1.7% of SRN Advisors LLC's investment portfolio, making the stock its 15th biggest holding. SRN Advisors LLC's holdings in Cintas were worth $1,912,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alecta Tjanstepension Omsesidigt increased its holdings in Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider's stock valued at $335,552,000 after buying an additional 1,222,500 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider's stock worth $546,388,000 after purchasing an additional 3,471 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider's stock worth $438,402,000 after purchasing an additional 37,727 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake 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 in the last quarter. Finally, SG Americas Securities LLC increased its stake 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 in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Down 0.8 %

Shares of Cintas stock traded down $1.72 during trading hours on Friday, hitting $207.41. The company's stock had a trading volume of 1,241,806 shares, compared to its average volume of 1,463,524. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $215.37. The firm has a fifty day moving average of $216.53 and a 200-day moving average of $190.59. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS - Get Free Report) last announced 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 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 analyst estimates of $2.49 billion. During the same quarter in the prior year, the company posted $3.70 EPS. The company's quarterly revenue was up 6.8% on a year-over-year basis. Research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has initiated a stock 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 generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on CTAS shares. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a research note on Thursday, September 26th. Truist Financial boosted their target price 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. The Goldman Sachs Group boosted their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Jefferies Financial Group cut their target price on shares of Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research note on Thursday, September 26th. Finally, Royal Bank of Canada upped their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a research note on Thursday, September 26th. Two 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, Cintas has a consensus rating of "Hold" and a consensus price target 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.