Petra Financial Advisors Inc. Invests $643,000 in Cintas Co. (NASDAQ:CTAS)

Petra Financial Advisors Inc. acquired a new position in Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 3,125 shares of the business services provider’s stock, valued at approximately $643,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. LGT Financial Advisors LLC lifted its stake in Cintas by 311.1% during 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 last quarter. Financial Management Professionals Inc. lifted its position in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas during the second quarter worth $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the first quarter valued at $29,000. Finally, Grove Bank & Trust boosted its position in shares of Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several recent analyst reports. Barclays raised their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Truist Financial increased their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group lifted their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

Shares of CTAS stock traded down $1.30 during trading on Thursday, reaching $206.55. The company had a trading volume of 88,571 shares, compared to its average volume of 1,451,047. The company has a market capitalization of $20.96 billion, a PE ratio of 14.35, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm’s 50 day simple moving average is $217.38 and its two-hundred day simple moving average is $191.29. Cintas Co. has a one year low of $125.62 and a one year high of $215.37.

Cintas (NASDAQ:CTAS) last posted 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. The business had revenue of $2.50 billion during 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%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.70 EPS. Sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s payout ratio is 10.77%.

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

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.