Mcdaniel Terry & Co. Acquires 137,220 Shares of Cintas Co. (NASDAQ:CTAS)

Mcdaniel Terry & Co. increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 301.9% during the third quarter, HoldingsChannel.com reports. The fund owned 182,673 shares of the business services provider’s stock after buying an additional 137,220 shares during the quarter. Cintas makes up approximately 3.1% of Mcdaniel Terry & Co.’s investment portfolio, making the stock its 11th largest position. Mcdaniel Terry & Co.’s holdings in Cintas were worth $37,609,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Alecta Tjanstepension Omsesidigt grew its stake in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares during the period. SG Americas Securities LLC lifted its holdings in Cintas by 3,302.1% during 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 during the last quarter. Bank Pictet & Cie Europe AG boosted its position in Cintas by 300.0% during the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares during the period. Raymond James & Associates increased its stake 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 worth $99,660,000 after purchasing an additional 364,659 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of 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 purchasing an additional 201,955 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CTAS shares. Robert W. Baird upped their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Truist Financial lifted their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus increased their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $209.13 on Friday. The company’s fifty day moving average price is $215.86 and its 200-day moving average price is $189.89. 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. Cintas Co. has a one year low of $123.65 and a one year high of $215.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.70 EPS. On average, equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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

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.