Grimes & Company Inc. Purchases 1,554 Shares of Cintas Co. (NASDAQ:CTAS)

Grimes & Company Inc. grew its stake in Cintas Co. (NASDAQ:CTAS) by 306.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,061 shares of the business services provider’s stock after purchasing an additional 1,554 shares during the period. Grimes & Company Inc.’s holdings in Cintas were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LGT Financial Advisors LLC grew its position in Cintas by 311.1% in the 2nd 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 last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas in the 2nd quarter worth $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas in the 1st quarter worth $29,000. Meeder Asset Management Inc. grew its position in Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the last quarter. Finally, Webster Bank N. A. acquired a new stake in Cintas in the 1st quarter worth $38,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Down 0.3 %

Shares of CTAS opened at $209.13 on Friday. The stock has a fifty day moving average price of $215.86 and a two-hundred day moving average price of $189.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $215.37. The company has a market cap 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 (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $3.70 EPS. Analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its board has approved a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CTAS shares. Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Barclays lifted their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Robert W. Baird lifted their target price 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. 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 research report on Thursday, September 26th. Finally, Jefferies Financial Group decreased their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus target price of $199.63.

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.