Argus Investors Counsel Inc. Grows Stake in Cintas Co. (NASDAQ:CTAS)

Argus Investors Counsel Inc. grew its holdings in Cintas Co. (NASDAQ:CTAS) by 269.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,536 shares of the business services provider’s stock after buying an additional 2,580 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Cintas were worth $728,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Alecta Tjanstepension Omsesidigt increased its position in Cintas by 300.0% during the 3rd 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 in the last quarter. SG Americas Securities LLC increased its position in Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after buying an additional 486,500 shares in the last quarter. Raymond James & Associates increased its position in Cintas by 305.4% during the 3rd quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after buying an additional 364,659 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Cintas by 123.1% during the 2nd 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. Finally, Vest Financial LLC boosted its stake in Cintas by 292.6% during the 3rd quarter. Vest Financial LLC now owns 258,477 shares of the business services provider’s stock valued at $53,215,000 after purchasing an additional 192,648 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.10% of the stock is currently owned by insiders.

Cintas Stock Performance

NASDAQ CTAS traded down $0.34 during trading hours on Tuesday, reaching $211.21. The stock had a trading volume of 241,293 shares, compared to its average volume of 1,466,460. The stock has a fifty day moving average of $215.04 and a 200 day moving average of $189.44. The stock has a market cap of $21.43 billion, a P/E ratio of 14.61, 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 debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm earned $3.70 earnings per share. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has approved a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wells Fargo & Company increased their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Company 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.