Forsta AP Fonden Increases Position in Cintas Co. (NASDAQ:CTAS)

Forsta AP Fonden increased its position in Cintas Co. (NASDAQ:CTAS) by 360.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,000 shares of the business services provider’s stock after acquiring an additional 87,700 shares during the period. Forsta AP Fonden’s holdings in Cintas were worth $23,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. Alecta Tjanstepension Omsesidigt boosted its position in 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 buying an additional 1,222,500 shares during the last quarter. SG Americas Securities LLC increased its stake 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 worth $103,194,000 after acquiring an additional 486,500 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in shares of 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 last quarter. Raymond James & Associates raised its holdings in shares of Cintas by 305.4% during 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 during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings 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 valued at $256,326,000 after purchasing an additional 201,955 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CTAS. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Robert W. Baird raised their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Finally, Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Two 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Down 0.8 %

NASDAQ:CTAS traded down $1.72 on Friday, reaching $207.41. 1,241,806 shares of the company’s stock were exchanged, compared to its average volume of 1,463,524. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $215.37. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $216.20 and a 200-day moving average of $190.02.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 earnings per share. As a group, analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has authorized a stock repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership 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.