Peapack Gladstone Financial Corp Purchases 2,942 Shares of Cintas Co. (NASDAQ:CTAS)

Peapack Gladstone Financial Corp boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 297.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,932 shares of the business services provider’s stock after purchasing an additional 2,942 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Cintas were worth $810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LGT Financial Advisors LLC grew its holdings 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 valued at $26,000 after buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Hollencrest Capital Management increased its holdings in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares in the last quarter. Addison Advisors LLC raised its stake in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in shares of Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of several recent research reports. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial upped their target price 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. Barclays raised their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley lifted their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $200.77.

Cintas Stock Down 0.2 %

Shares of NASDAQ CTAS opened at $211.22 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a market capitalization of $85.18 billion, a PE ratio of 53.34, a P/E/G ratio of 4.15 and a beta of 1.33. Cintas Co. has a one year low of $138.39 and a one year high of $228.12. The business’s fifty day moving average price is $215.13 and its 200-day moving average price is $202.40.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share 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 firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $3.70 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. Cintas’s payout ratio is 39.39%.

About Cintas

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.