Cintas Co. (NASDAQ:CTAS) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 273.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,604 shares of the business services provider’s stock after buying an additional 51,708 shares during the quarter. State of Alaska Department of Revenue owned 0.07% of Cintas worth $14,535,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. LGT Financial Advisors LLC raised its position in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. raised its holdings 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 buying an additional 99 shares during the period. Atwood & Palmer Inc. purchased a new stake in Cintas during the second quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas in the first quarter worth about $29,000. Finally, Grove Bank & Trust increased its position in shares of Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.8 %

Cintas stock opened at $207.41 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37. The firm’s fifty day simple moving average is $216.53 and its 200-day simple moving average is $190.43. The company has a market capitalization of $21.04 billion, a P/E ratio of 14.32, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $3.70 earnings per share. Sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CTAS shares. The Goldman Sachs Group raised 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. Truist Financial lifted their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Stifel Nicolaus lifted their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $199.63.

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.