Summit Global Investments Raises Holdings in Cintas Corporation $CTAS

Summit Global Investments increased its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 396.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,576 shares of the business services provider’s stock after acquiring an additional 4,452 shares during the period. Summit Global Investments’ holdings in Cintas were worth $943,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in Cintas in the 4th quarter worth approximately $25,000. First United Bank & Trust purchased a new position in shares of Cintas during the 1st quarter valued at approximately $25,000. Whipplewood Advisors LLC increased its holdings in shares of Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 137 shares in the last quarter. Swiss RE Ltd. purchased a new position in shares of Cintas during the 4th quarter valued at approximately $25,000. Finally, Camelot Portfolios LLC acquired a new position in shares of Cintas in the 4th quarter valued at $26,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTAS. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Citigroup cut their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Argus upgraded shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Wells Fargo & Company reissued an “overweight” rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Truist Financial dropped their target price on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas Trading Down 0.7%

Shares of CTAS stock opened at $200.41 on Wednesday. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $226.75. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 3.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The stock has a 50 day simple moving average of $177.04 and a 200-day simple moving average of $182.97.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities research analysts expect that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.