Cintas Corporation $CTAS Stock Bought by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 50,253 shares of the business services provider’s stock after acquiring an additional 3,756 shares during the period. Salem Investment Counselors Inc.’s holdings in Cintas were worth $9,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signal Advisors Wealth LLC grew its stake in shares of Cintas by 39.4% in the third quarter. Signal Advisors Wealth LLC now owns 23,996 shares of the business services provider’s stock worth $4,681,000 after purchasing an additional 6,778 shares in the last quarter. Copeland Capital Management LLC raised its stake in shares of Cintas by 4.7% during the third quarter. Copeland Capital Management LLC now owns 66,852 shares of the business services provider’s stock valued at $13,040,000 after purchasing an additional 2,985 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Cintas by 470.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,547 shares of the business services provider’s stock worth $1,472,000 after purchasing an additional 6,224 shares during the period. Fluent Financial LLC lifted its holdings in Cintas by 2.7% in the third quarter. Fluent Financial LLC now owns 5,248 shares of the business services provider’s stock worth $1,024,000 after purchasing an additional 138 shares during the period. Finally, Fragasso Financial Advisors Inc grew its position in Cintas by 75.2% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 2,999 shares of the business services provider’s stock valued at $607,000 after buying an additional 1,287 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CTAS shares. Robert W. Baird set a $222.00 target price on shares of Cintas and gave the company an “outperform” rating in a research note on Thursday, September 24th. Jefferies Financial Group increased their price objective on shares of Cintas from $200.00 to $210.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cintas in a research note on Thursday, September 10th. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, Truist Financial upped their target price on Cintas from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $218.50.

Cintas Stock Performance

NASDAQ:CTAS opened at $206.38 on Wednesday. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $200.42 and a 200-day moving average of $186.44. The firm has a market cap of $81.95 billion, a price-to-earnings ratio of 40.71, a price-to-earnings-growth ratio of 3.26 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Analysts forecast that Cintas Corporation will post 5.52 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. This is a positive change from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 14th. Cintas’s dividend payout ratio (DPR) is presently 41.03%.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) provides workplace services to businesses and organizations across North America. The company’s primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.