Wealthfront Advisers LLC Grows Holdings in Cintas Co. (NASDAQ:CTAS)

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Wealthfront Advisers LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 11.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,497 shares of the business services provider’s stock after acquiring an additional 555 shares during the period. Wealthfront Advisers LLC’s holdings in Cintas were worth $1,479,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTAS. Usca Ria LLC acquired a new stake in shares of Cintas during the 3rd quarter valued at approximately $27,000. Vigilant Capital Management LLC acquired a new stake in shares of Cintas during the 4th quarter valued at approximately $38,000. Signaturefd LLC raised its position in shares of Cintas by 55.8% during the 3rd quarter. Signaturefd LLC now owns 148 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 53 shares in the last quarter. Evoke Wealth LLC acquired a new stake in Cintas in the third quarter worth $45,000. Finally, Atlas Capital Advisors LLC acquired a new stake in Cintas in the third quarter worth $54,000. Institutional investors own 65.85% of the company’s stock.

Several equities research analysts have weighed in on CTAS shares. Morgan Stanley increased their target price on Cintas from $223.00 to $235.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. increased their target price on Cintas from $283.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada increased their target price on Cintas from $275.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. ValuEngine lowered Cintas from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research raised Cintas from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $274.18.

Shares of CTAS stock opened at $286.02 on Friday. The stock has a 50-day simple moving average of $270.59 and a 200 day simple moving average of $262.47. Cintas Co. has a fifty-two week low of $180.44 and a fifty-two week high of $287.74. The stock has a market capitalization of $29.31 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.08 and a beta of 0.98. The company has a quick ratio of 1.65, a current ratio of 1.92 and a debt-to-equity ratio of 0.86.

Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, December 17th. The business services provider reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.24. Cintas had a return on equity of 30.04% and a net margin of 12.99%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the business posted $1.76 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas Co. will post 8.79 earnings per share for the current year.

Cintas declared that its Board of Directors has authorized a stock buyback plan on Tuesday, October 29th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Cintas

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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