Inspire Advisors LLC Acquires 2,327 Shares of Cintas Co. (NASDAQ:CTAS)

Inspire Advisors LLC grew its holdings in Cintas Co. (NASDAQ:CTAS) by 291.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,125 shares of the business services provider’s stock after purchasing an additional 2,327 shares during the period. Inspire Advisors LLC’s holdings in Cintas were worth $643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CTAS. B. Riley Wealth Advisors Inc. increased its stake in shares of Cintas by 12.6% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 58 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in Cintas during the 4th quarter worth $343,000. Nomura Holdings Inc. grew its position in Cintas by 26.4% during the 4th quarter. Nomura Holdings Inc. now owns 1,734 shares of the business services provider’s stock worth $1,045,000 after acquiring an additional 362 shares during the last quarter. Rise Advisors LLC bought a new stake in Cintas during the 1st quarter worth $30,000. Finally, RFG Advisory LLC bought a new stake in Cintas during the 1st quarter worth $228,000. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Barclays upped their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.63.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is owned by corporate insiders.

Cintas Stock Performance

CTAS stock opened at $214.02 on Friday. The firm has a market cap of $21.72 billion, a PE ratio of 14.78, a P/E/G 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 business has a 50 day moving average of $214.61 and a 200-day moving average of $188.85. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $215.37.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company earned $3.70 earnings per share. Cintas’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.73%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is 10.77%.

Cintas declared that its Board of Directors has authorized a stock buyback 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.