IFM Investors Pty Ltd Purchases 54,111 Shares of Cintas Co. (NASDAQ:CTAS)

IFM Investors Pty Ltd increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 290.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 72,762 shares of the business services provider’s stock after buying an additional 54,111 shares during the quarter. IFM Investors Pty Ltd’s holdings in Cintas were worth $14,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LGT Financial Advisors LLC raised its stake in Cintas by 311.1% during the 2nd 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 last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas during the 2nd quarter worth about $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas during the first quarter valued at about $29,000. Grove Bank & Trust lifted its stake in shares of 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 buying an additional 134 shares during the period. Finally, Meeder Asset Management Inc. grew its position in 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 in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of CTAS stock opened at $209.13 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $21.22 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 4.12 and a beta of 1.32. The firm’s 50 day moving average is $215.86 and its 200-day moving average is $189.89. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37.

Cintas (NASDAQ:CTAS) last released its 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $3.70 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has initiated 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 often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial upped 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. Robert W. Baird increased their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Finally, Morgan Stanley boosted their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.