Cromwell Holdings LLC Acquires 591 Shares of Cintas Co. (NASDAQ:CTAS)

Cromwell Holdings LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 788 shares of the business services provider’s stock after acquiring an additional 591 shares during the quarter. Cromwell Holdings LLC’s holdings in Cintas were worth $162,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its stake in Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after acquiring an additional 14 shares during the period. Axxcess Wealth Management LLC grew its position in Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares during the period. Field & Main Bank increased its stake in Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares in the last quarter. Drive Wealth Management LLC raised its holdings in Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after buying an additional 16 shares during the last quarter. Finally, TIAA Trust National Association lifted its stake in shares of Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CTAS shares. 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 report on Tuesday, September 17th. Stifel Nicolaus increased their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Morgan Stanley increased their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Down 0.8 %

Shares of NASDAQ CTAS opened at $207.41 on Friday. 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 stock has a market capitalization of $21.04 billion, a PE ratio of 14.32, a P/E/G ratio of 4.12 and a beta of 1.32. Cintas Co. has a one year low of $123.65 and a one year high of $215.37. The business’s fifty day moving average price is $216.20 and its 200-day moving average price is $190.02.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm posted $3.70 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has initiated a share repurchase plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is 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.