Grimes & Company Inc. Has $424,000 Holdings in Cintas Co. (NASDAQ:CTAS)

Grimes & Company Inc. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 306.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,061 shares of the business services provider’s stock after purchasing an additional 1,554 shares during the period. Grimes & Company Inc.’s holdings in Cintas were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CTAS. LGT Financial Advisors LLC grew its stake 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. Atwood & Palmer Inc. acquired a new position in Cintas in the second quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas in the first quarter valued at about $29,000. Grove Bank & Trust grew its stake in Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of research analyst reports. UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada boosted their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

CTAS opened at $209.13 on Friday. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $215.37. The firm has a market capitalization of $21.22 billion, a PE ratio of 14.44, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The business’s 50-day simple moving average is $215.86 and its 200 day simple moving average is $189.89.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The business 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%. Cintas’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 earnings per share. As a group, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has authorized a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership 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.