Cintas Corporation $CTAS Stock Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 396.0% during the third quarter, HoldingsChannel reports. The firm owned 5,957 shares of the business services provider’s stock after buying an additional 4,756 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Cintas were worth $1,162,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. AMG National Trust Bank bought a new position in Cintas during the second quarter valued at $1,973,000. Summit Global Investments purchased a new stake in shares of Cintas in the second quarter valued at $950,000. TimesSquare Capital Management LLC bought a new stake in shares of Cintas in the 2nd quarter worth about $62,057,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Cintas in the 2nd quarter worth about $4,972,000. Finally, BlackRock Inc. bought a new stake in shares of Cintas in the 2nd quarter worth about $4,520,425,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 2.1%

Shares of NASDAQ CTAS opened at $213.06 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.45 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $200.78 and a two-hundred day simple moving average of $187.06. The firm has a market cap of $84.60 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 3.32 and a beta of 0.92. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.04. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the business earned $1.20 EPS. The business’s revenue for the quarter 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 expect that Cintas Corporation will post 5.52 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were issued a $0.52 dividend. The ex-dividend date was Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 41.03%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of recent analyst reports. Robert W. Baird set a $222.00 price target on shares of Cintas and gave the stock an “outperform” rating in a research note on Thursday, September 24th. Truist Financial increased their price objective on shares of Cintas from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Argus increased their price objective on shares of Cintas from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Jefferies Financial Group raised their price objective on shares of Cintas from $200.00 to $210.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Finally, UBS Group restated a “buy” rating and set a $235.00 target price (up from $230.00) on shares of Cintas in a research report on Thursday, September 24th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.50.

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.