Zions Bancorporation N.A. Takes Position in Cintas Co. (CTAS)
Zions Bancorporation N.A. acquired a new stake in Cintas Co. (NASDAQ:CTAS) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 628 shares of the business services provider’s stock, valued at approximately $127,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM Advisors LLC increased its stake in Cintas by 46.5% in the 4th quarter. CWM Advisors LLC now owns 4,007 shares of the business services provider’s stock valued at $673,000 after buying an additional 1,272 shares during the last quarter. Roman Butler Fullerton & Co. increased its stake in Cintas by 10.7% in the 1st quarter. Roman Butler Fullerton & Co. now owns 2,238 shares of the business services provider’s stock valued at $452,000 after buying an additional 217 shares during the last quarter. Fulton Bank N.A. acquired a new stake in Cintas in the 1st quarter valued at $227,000. CIBC World Markets Inc. increased its stake in Cintas by 103.4% in the 1st quarter. CIBC World Markets Inc. now owns 36,130 shares of the business services provider’s stock valued at $7,302,000 after buying an additional 18,363 shares during the last quarter. Finally, Empire Life Investments Inc. acquired a new stake in Cintas in the 4th quarter valued at $5,381,000. 67.05% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on CTAS shares. Morgan Stanley lifted their price target on shares of Cintas from $163.00 to $172.00 and gave the company an “underweight” rating in a research note on Friday, March 22nd. Zacks Investment Research lowered shares of Cintas from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. BidaskClub lowered shares of Cintas from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. lifted their price target on shares of Cintas from $210.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Finally, ValuEngine upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $200.05.
Shares of Cintas stock traded up $1.80 during trading on Monday, hitting $223.63. 7,662 shares of the stock were exchanged, compared to its average volume of 403,505. The firm has a market capitalization of $23.20 billion, a PE ratio of 37.74, a P/E/G ratio of 2.44 and a beta of 0.99. Cintas Co. has a 1-year low of $155.98 and a 1-year high of $227.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.24 and a quick ratio of 1.89.
Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, March 21st. The business services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The company had revenue of $1.68 million for the quarter, compared to analyst estimates of $1.69 billion. Cintas had a net margin of 12.44% and a return on equity of 25.85%. Cintas’s revenue for the quarter was down 99.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 EPS. As a group, analysts expect that Cintas Co. will post 7.46 EPS for the current year.
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Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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