Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 437.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,127 shares of the business services provider’s stock after buying an additional 131,946 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.16% of Cintas worth $33,379,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CTAS. Alecta Tjanstepension Omsesidigt grew its position 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 valued at $335,552,000 after purchasing an additional 1,222,500 shares in the last quarter. SG Americas Securities LLC grew its position in shares of 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 grew its position in shares of Cintas by 300.0% in the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock valued at $105,170,000 after purchasing an additional 383,124 shares in the last quarter. Raymond James & Associates grew its position in shares of Cintas by 305.4% in the third quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after purchasing an additional 364,659 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Cintas by 123.1% in the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after acquiring an additional 201,955 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTAS has been the subject of several analyst reports. Jefferies Financial Group lowered their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. UBS Group increased their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group increased their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Down 0.8 %

Shares of NASDAQ CTAS opened at $207.41 on Monday. The stock has a market cap of $21.04 billion, a P/E ratio of 14.32, a PEG ratio of 4.12 and a beta of 1.32. 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 Co. has a 12-month low of $123.65 and a 12-month high of $215.37. The business’s fifty day simple moving average is $216.53 and its 200-day simple moving average is $190.59.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for 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 revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $3.70 earnings per share. As a group, equities analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

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

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.