Cubist Systematic Strategies LLC bought a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 2nd quarter, HoldingsChannel reports. The firm bought 2,685 shares of the business services provider’s stock, valued at approximately $497,000.
Several other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new stake in shares of Cintas during the second quarter worth $197,000. Bank of America Corp DE grew its holdings in shares of Cintas by 18.3% during the second quarter. Bank of America Corp DE now owns 282,895 shares of the business services provider’s stock worth $52,356,000 after purchasing an additional 43,764 shares during the last quarter. Morgan Stanley grew its holdings in shares of Cintas by 31.9% during the second quarter. Morgan Stanley now owns 345,973 shares of the business services provider’s stock worth $64,029,000 after purchasing an additional 83,764 shares during the last quarter. Natixis grew its holdings in shares of Cintas by 40.9% during the second quarter. Natixis now owns 4,310 shares of the business services provider’s stock worth $798,000 after purchasing an additional 1,252 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Cintas by 100.8% during the second quarter. Valeo Financial Advisors LLC now owns 1,568 shares of the business services provider’s stock worth $329,000 after purchasing an additional 787 shares during the last quarter. Institutional investors own 68.70% of the company’s stock.
Shares of CTAS opened at $197.59 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.19 and a debt-to-equity ratio of 0.84. Cintas Co. has a 12-month low of $141.76 and a 12-month high of $217.34. The firm has a market cap of $23.15 billion, a PE ratio of 33.39, a PEG ratio of 2.50 and a beta of 0.98.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Tuesday, September 25th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.13. Cintas had a return on equity of 25.25% and a net margin of 12.72%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. research analysts anticipate that Cintas Co. will post 7.09 EPS for the current fiscal year.
Several analysts have recently commented on CTAS shares. Morgan Stanley restated a “sell” rating and set a $178.00 target price (up previously from $164.00) on shares of Cintas in a report on Thursday, September 13th. Credit Suisse Group began coverage on Cintas in a research note on Friday, August 10th. They set a “neutral” rating and a $205.00 price target on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, July 20th. Nomura reaffirmed a “hold” rating and set a $188.00 price target on shares of Cintas in a research note on Sunday, July 22nd. Finally, Stifel Nicolaus upped their price target on Cintas from $162.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $195.00.
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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