Visionary Asset Management Inc. lowered its stake in Cintas Co. (NASDAQ:CTAS) by 41.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,532 shares of the business services provider’s stock after selling 1,087 shares during the quarter. Visionary Asset Management Inc.’s holdings in Cintas were worth $257,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in CTAS. Polaris Greystone Financial Group LLC bought a new position in Cintas during the third quarter worth about $154,000. Harvest Fund Management Co. Ltd bought a new position in Cintas during the third quarter worth about $184,000. Flagship Harbor Advisors LLC bought a new position in Cintas during the second quarter worth about $197,000. Hartline Investment Corp bought a new position in Cintas during the third quarter worth about $201,000. Finally, Lourd Capital LLC bought a new position in Cintas during the third quarter worth about $202,000. 65.95% of the stock is currently owned by institutional investors and hedge funds.
CTAS has been the subject of a number of research analyst reports. Zacks Investment Research cut Cintas from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Barclays lifted their price target on Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, September 26th. Morgan Stanley lifted their price target on Cintas from $178.00 to $183.00 and gave the stock a “sell” rating in a report on Wednesday, September 26th. Robert W. Baird set a $235.00 price objective on Cintas and gave the stock a “buy” rating in a report on Wednesday, September 26th. Finally, BidaskClub cut Cintas from a “strong-buy” rating to a “buy” rating in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $190.77.
Shares of NASDAQ:CTAS opened at $177.79 on Friday. Cintas Co. has a 12-month low of $147.38 and a 12-month high of $217.34. The company has a market cap of $18.43 billion, a PE ratio of 29.93, a PEG ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.99 and a quick ratio of 1.70.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, December 20th. The business services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.04. Cintas had a return on equity of 24.87% and a net margin of 14.10%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Cintas Co. will post 7.35 earnings per share for the current fiscal year.
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Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
Further Reading: Outstanding Shares and The Effect on Share Price
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