Commerzbank Aktiengesellschaft FI Purchases Shares of 1,312 Cintas Co. (NASDAQ:CTAS)

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,312 shares of the business services provider’s stock, valued at approximately $271,000.

Other hedge funds have also modified their holdings of the company. Alecta Tjanstepension Omsesidigt grew its stake in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares in the last quarter. SG Americas Securities LLC grew its position in Cintas by 3,302.1% in 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 purchasing an additional 486,500 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Cintas by 300.0% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock valued at $105,170,000 after buying an additional 383,124 shares during the last quarter. Raymond James & Associates increased its stake in Cintas by 305.4% in the 3rd quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after buying an additional 364,659 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after buying an additional 201,955 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Price Performance

Shares of Cintas stock opened at $209.13 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $215.37. The company has a 50-day simple moving average of $215.86 and a two-hundred day simple moving average of $189.89.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data 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 firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.70 EPS. Analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTAS shares. The Goldman Sachs Group raised their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays increased their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. 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 price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Two 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Company 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.