Cintas Co. (NASDAQ:CTAS) Stock Position Raised by IHT Wealth Management LLC

IHT Wealth Management LLC grew its holdings in Cintas Co. (NASDAQ:CTAS) by 307.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,743 shares of the business services provider’s stock after acquiring an additional 23,945 shares during the period. IHT Wealth Management LLC’s holdings in Cintas were worth $6,534,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CTAS. LGT Financial Advisors LLC boosted its position in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. boosted its holdings 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 worth $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management grew its stake in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Cintas in the 2nd quarter worth $27,000. Finally, Addison Advisors LLC boosted its holdings in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group raised 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 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, Cintas currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

Cintas stock traded down $3.15 on Tuesday, reaching $222.64. The company’s stock had a trading volume of 1,965,318 shares, compared to its average volume of 1,317,341. The business’s fifty day moving average price is $212.76 and its 200 day moving average price is $199.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a market cap of $89.79 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 4.45 and a beta of 1.34. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the company earned $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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.