Nicholson Wealth Management Group LLC Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Nicholson Wealth Management Group LLC purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the third quarter, HoldingsChannel reports. The institutional investor purchased 3,555 shares of the business services provider’s stock, valued at approximately $732,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC boosted its stake in Cintas by 297.5% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 4,758 shares of the business services provider’s stock valued at $980,000 after purchasing an additional 3,561 shares during the last quarter. Legacy Capital Group California Inc. lifted its holdings in shares of Cintas by 294.9% during the third quarter. Legacy Capital Group California Inc. now owns 4,162 shares of the business services provider’s stock valued at $857,000 after purchasing an additional 3,108 shares in the last quarter. Rowlandmiller & PARTNERS.ADV boosted its position in shares of Cintas by 300.0% during the third quarter. Rowlandmiller & PARTNERS.ADV now owns 24,440 shares of the business services provider’s stock valued at $5,032,000 after buying an additional 18,330 shares during the last quarter. Dakota Wealth Management increased its holdings in Cintas by 227.1% in the 3rd quarter. Dakota Wealth Management now owns 91,140 shares of the business services provider’s stock worth $18,764,000 after buying an additional 63,275 shares in the last quarter. Finally, DT Investment Partners LLC raised its position in Cintas by 300.0% in the 3rd quarter. DT Investment Partners LLC now owns 164 shares of the business services provider’s stock worth $34,000 after buying an additional 123 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Redburn Atlantic initiated coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. Royal Bank of Canada boosted 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. Stifel Nicolaus increased their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

Shares of CTAS opened at $209.13 on Friday. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $215.37. 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 has a market cap of $21.22 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 4.12 and a beta of 1.32. The business has a 50-day simple moving average of $215.86 and a two-hundred day simple moving average of $189.89.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has authorized a share repurchase plan 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 buy up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.