Cintas Co. (NASDAQ:CTAS) Position Increased by Paragon Advisors LLC

by · The Cerbat Gem

Paragon Advisors LLC grew its holdings in Cintas Co. (NASDAQ:CTAS – Free Report) by 293.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,509 shares of the business services provider’s stock after acquiring an additional 9,330 shares during the period. Paragon Advisors LLC’s holdings in Cintas were worth $2,575,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. LGT Financial Advisors LLC lifted its holdings in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Financial Management Professionals Inc. grew its position in shares of 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 buying an additional 99 shares during the period. Hollencrest Capital Management increased its position in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas during the 2nd quarter valued at about $27,000. Finally, Addison Advisors LLC boosted its stake in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CTAS shares. Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Robert W. Baird increased their target price 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. The Goldman Sachs Group increased their price objective 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. Finally, Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $199.63.

Check Out Our Latest Stock Analysis on Cintas

Cintas Price Performance

CTAS opened at $215.20 on Friday. The firm’s fifty day moving average price is $221.49 and its two-hundred day moving average price is $195.28. The company has a market capitalization of $86.79 billion, a price-to-earnings ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. 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 1 year low of $136.50 and a 1 year high of $227.35.

Cintas (NASDAQ:CTAS – Get Free Report) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate 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. As a group, analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its board 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Cintas Profile

(Free Report)

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.

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