Freedom Day Solutions LLC Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Freedom Day Solutions LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 297.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,966 shares of the business services provider’s stock after acquiring an additional 15,688 shares during the quarter. Cintas makes up 1.3% of Freedom Day Solutions LLC’s holdings, making the stock its 11th largest holding. Freedom Day Solutions LLC’s holdings in Cintas were worth $4,316,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTAS. Alecta Tjanstepension Omsesidigt boosted its holdings in shares of Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. SG Americas Securities LLC raised 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 purchasing an additional 486,500 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Cintas by 300.0% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after buying an additional 383,124 shares during the period. Raymond James & Associates grew its position in shares of Cintas by 305.4% during the 3rd quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock worth $99,660,000 after buying an additional 364,659 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after buying an additional 201,955 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial upped 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. Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Barclays lifted their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Morgan Stanley lifted their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two equities research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

CTAS opened at $209.13 on Friday. The company has a market cap of $21.22 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. 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’s 50-day moving average price is $215.86 and its 200-day moving average price is $189.89. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $215.37.

Cintas (NASDAQ:CTAS) last posted 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company posted $3.70 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has authorized a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Cintas 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.