RAM Investment Partners LLC Makes New Investment in Cintas Co. (NASDAQ:CTAS)

RAM Investment Partners LLC bought a new stake in Cintas Co. (NASDAQ:CTAS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,041 shares of the business services provider’s stock, valued at approximately $214,000.

Several other large investors have also modified their holdings of the business. Alecta Tjanstepension Omsesidigt boosted its stake in Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after buying an additional 1,222,500 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after acquiring an additional 486,500 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Cintas by 300.0% during 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 purchasing an additional 383,124 shares during the period. Raymond James & Associates increased its holdings in Cintas by 305.4% in the 3rd quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after purchasing an additional 364,659 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Cintas by 123.1% in 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 purchasing an additional 201,955 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 0.9 %

NASDAQ:CTAS opened at $209.71 on Thursday. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37. The stock has a market cap of $21.28 billion, a P/E ratio of 14.48, a P/E/G ratio of 4.12 and a beta of 1.32. 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 stock has a 50-day simple moving average of $215.86 and a 200-day simple moving average of $189.89.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.49 billion. During the same period in the prior year, the company posted $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial increased their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Finally, Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Two 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $199.63.

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.