Great Lakes Retirement Inc. Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Great Lakes Retirement Inc. boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, HoldingsChannel.com reports. The fund owned 3,324 shares of the business services provider’s stock after purchasing an additional 2,493 shares during the period. Great Lakes Retirement Inc.’s holdings in Cintas were worth $684,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LGT Financial Advisors LLC boosted its holdings in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas during the first quarter worth about $29,000. Grove Bank & Trust grew its position in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after buying an additional 134 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after buying an additional 34 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

CTAS stock opened at $209.13 on Friday. The business has a 50 day simple moving average of $215.86 and a 200-day simple moving average of $189.89. The company has a market capitalization of $21.22 billion, a P/E ratio of 14.44, a PEG 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 current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm posted $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has approved a stock buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on CTAS shares. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Stifel Nicolaus lifted their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Barclays increased their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. UBS Group lifted their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Morgan Stanley increased their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $199.63.

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.