Peoples Bank OH Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

Peoples Bank OH boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 277.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,304 shares of the business services provider’s stock after buying an additional 2,428 shares during the quarter. Peoples Bank OH’s holdings in Cintas were worth $680,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Checchi Capital Advisers LLC boosted its stake in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after purchasing an additional 14 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares during the period. Field & Main Bank boosted its stake in shares of Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares during the period. Drive Wealth Management LLC boosted its stake in shares of Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 16 shares during the period. Finally, TIAA Trust National Association raised its holdings in shares of Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after acquiring an additional 16 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CTAS. Stifel Nicolaus lifted their price objective on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Truist Financial lifted their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley lifted their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Finally, UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two investment 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, the company has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Price Performance

Cintas stock traded up $0.30 during mid-day trading on Thursday, reaching $210.01. The company had a trading volume of 288,162 shares, compared to its average volume of 1,461,641. The company has a market capitalization of $21.31 billion, a P/E ratio of 14.48, a P/E/G ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock’s 50-day simple moving average is $215.86 and its 200-day simple moving average is $189.89. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (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 the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $3.70 earnings per share. On average, equities analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has approved a stock buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.