Signaturefd LLC Raises Position in Cintas Co. (NASDAQ:CTAS)

Signaturefd LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 356.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,736 shares of the business services provider’s stock after purchasing an additional 5,259 shares during the quarter. Signaturefd LLC’s holdings in Cintas were worth $1,387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alecta Tjanstepension Omsesidigt raised its stake in shares of Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares during the last quarter. Legal & General Group Plc increased its position in shares of Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after acquiring an additional 3,471 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after acquiring an additional 37,727 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Cintas by 305.4% during the third quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after acquiring an additional 364,659 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of research analyst reports. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Wells Fargo & Company increased their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Robert W. Baird increased their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada raised their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley raised their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

Cintas stock opened at $209.71 on Thursday. Cintas Co. has a one year low of $123.65 and a one year high of $215.37. The business has a fifty day moving average price of $215.86 and a 200-day moving average price of $189.89. 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 firm has a market capitalization of $21.28 billion, a P/E ratio of 14.48, a PEG ratio of 4.12 and a beta of 1.32.

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

Cintas announced that its board has initiated a stock buyback plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

About Cintas

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.