International Assets Investment Management LLC Invests $403.52 Million in Cintas Co. (NASDAQ:CTAS)

International Assets Investment Management LLC acquired a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 195,998 shares of the business services provider’s stock, valued at approximately $403,520,000. International Assets Investment Management LLC owned 0.19% of Cintas at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Creative Planning raised its holdings in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after acquiring an additional 4,957 shares during the period. Western Financial Corp CA lifted its holdings in Cintas by 628.2% in the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after purchasing an additional 10,177 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Cintas by 2,063.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after purchasing an additional 22,700 shares during the period. Searle & CO. grew its holdings in Cintas by 300.0% during the 3rd quarter. Searle & CO. now owns 7,200 shares of the business services provider’s stock valued at $1,482,000 after buying an additional 5,400 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Cintas by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after buying an additional 838 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.3 %

CTAS stock opened at $209.13 on Friday. The firm’s fifty day simple moving average is $215.86 and its two-hundred day simple moving average is $189.89. 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. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $215.37.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS 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 the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.70 EPS. As a group, analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CTAS shares. The Goldman Sachs Group upped their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley raised their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.