First American Bank Buys 71,933 Shares of Cintas Co. (NASDAQ:CTAS)

First American Bank boosted its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 296.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 96,180 shares of the business services provider's stock after buying an additional 71,933 shares during the quarter. Cintas accounts for about 1.4% of First American Bank's investment portfolio, making the stock its 18th largest position. First American Bank owned approximately 0.09% of Cintas worth $19,802,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC grew its position in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. grew its position in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas during the 1st quarter worth approximately $29,000. Finally, Grove Bank & Trust grew its position in Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider's stock worth $30,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Up 0.6 %

Shares of CTAS stock traded up $1.18 on Monday, hitting $208.59. The company's stock had a trading volume of 960,862 shares, compared to its average volume of 1,461,109. 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 Co. has a fifty-two week low of $124.07 and a fifty-two week high of $215.37. The firm's fifty day moving average price is $216.53 and its 200-day moving average price is $190.59. The stock has a market capitalization of $21.16 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 4.12 and a beta of 1.32.

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

Cintas declared that its board has authorized a share buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

CTAS has been the topic of several research analyst reports. UBS Group lifted their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Robert W. Baird lifted their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Barclays lifted their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Royal Bank of Canada lifted their target price 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. Finally, The Goldman Sachs Group lifted their target price on shares of Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. 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 MarketBeat, the stock currently has a consensus 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.