American Trust Buys 23,140 Shares of Cintas Co. (NASDAQ:CTAS)

American Trust increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 284.4% in the third quarter, Holdings Channel.com reports. The fund owned 31,277 shares of the business services provider’s stock after purchasing an additional 23,140 shares during the period. Cintas comprises about 0.5% of American Trust’s holdings, making the stock its 28th biggest position. American Trust’s holdings in Cintas were worth $6,439,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. 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. Meeder Asset Management Inc. increased its stake 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 acquiring an additional 34 shares during the last quarter. Crewe Advisors LLC boosted its position in shares of Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 32 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Cintas in the second quarter valued at $51,000. Finally, Field & Main Bank raised its stake in 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 in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CTAS shares. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley raised their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday. Wells Fargo & Company increased their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Truist Financial lifted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group reduced their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $200.77.

Cintas Price Performance

Shares of CTAS opened at $211.59 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a 50 day moving average price of $215.00 and a 200-day moving average price of $201.62. Cintas Co. has a fifty-two week low of $138.39 and a fifty-two week high of $228.12. The stock has a market capitalization of $85.33 billion, a PE ratio of 53.43, a PEG ratio of 4.15 and a beta of 1.33.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. Cintas’s dividend payout ratio is currently 39.39%.

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.