Lake Street Advisors Group LLC Buys 1,429 Shares of Cintas Co. (NASDAQ:CTAS)

Lake Street Advisors Group LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 299.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,906 shares of the business services provider’s stock after purchasing an additional 1,429 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Cintas were worth $392,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Sunbelt Securities Inc. increased its stake in Cintas by 233.3% during the 1st quarter. Sunbelt Securities Inc. now owns 90 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 63 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Cintas during the first quarter valued at approximately $233,000. Wealthcare Advisory Partners LLC raised its holdings in Cintas by 9.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,072 shares of the business services provider’s stock worth $737,000 after acquiring an additional 90 shares during the last quarter. 180 Wealth Advisors LLC bought a new position in Cintas in the 1st quarter valued at approximately $216,000. Finally, Webster Bank N. A. purchased a new stake in Cintas during the 1st quarter valued at $38,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTAS has been the topic of a number of research analyst reports. Royal Bank of Canada upped their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Jefferies Financial Group dropped their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Truist Financial boosted their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group raised their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Barclays boosted their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Two equities 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, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

NASDAQ CTAS opened at $207.41 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. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 4.12 and a beta of 1.32. The company’s 50 day moving average is $216.53 and its two-hundred day moving average is $190.28.

Cintas (NASDAQ:CTAS) last released its 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 return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business posted $3.70 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has approved a stock repurchase 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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.