Good Life Advisors LLC Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Good Life Advisors LLC purchased a new stake in Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, HoldingsChannel reports. The fund purchased 6,098 shares of the business services provider’s stock, valued at approximately $1,255,000.

Other institutional investors also recently modified their holdings of the company. LGT Financial Advisors LLC lifted its position in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Cintas during the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas during the 1st quarter worth about $29,000. Rise Advisors LLC bought a new position in Cintas in the 1st quarter worth about $30,000. Finally, Grove Bank & Trust boosted its stake in Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several analyst reports. Robert W. Baird upped their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Royal Bank of Canada increased their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus increased their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

Shares of Cintas stock opened at $213.82 on Friday. The firm has a market capitalization of $21.69 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The business’s 50-day moving average price is $214.11 and its 200-day moving average price is $188.54.

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

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio is presently 10.77%.

Cintas announced that its board has approved a share buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.10% of the company’s stock.

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.