E. Ohman J or Asset Management AB Acquires 10,500 Shares of Cintas Co. (NASDAQ:CTAS)

E. Ohman J or Asset Management AB lifted its position in Cintas Co. (NASDAQ:CTAS) by 269.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,400 shares of the business services provider’s stock after acquiring an additional 10,500 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Cintas were worth $2,965,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CTAS. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% in the second 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. bought a new stake in Cintas during the second quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas during the first quarter worth approximately $29,000. Grove Bank & Trust increased its stake in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the topic of several analyst reports. UBS Group boosted their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus boosted their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Finally, Wells Fargo & Company boosted their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Two equities 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Down 0.8 %

Cintas stock opened at $207.41 on Friday. The business has a fifty day moving average of $216.20 and a two-hundred day moving average of $190.02. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $21.04 billion, a P/E ratio of 14.32, a P/E/G ratio of 4.12 and a beta of 1.32. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $215.37.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 earnings per share. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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.