Richard Bernstein Advisors LLC Takes $4.43 Million Position in Cintas Co. (CTAS)
Richard Bernstein Advisors LLC purchased a new stake in Cintas Co. (NASDAQ:CTAS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,909 shares of the business services provider’s stock, valued at approximately $4,425,000.
Several other large investors also recently bought and sold shares of the stock. NumerixS Investment Technologies Inc acquired a new stake in Cintas during the second quarter worth $631,000. Cambridge Investment Research Advisors Inc. increased its stake in Cintas by 36.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,238 shares of the business services provider’s stock worth $599,000 after acquiring an additional 863 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in Cintas during the second quarter worth $453,000. FMR LLC increased its stake in Cintas by 15.9% during the second quarter. FMR LLC now owns 2,507,776 shares of the business services provider’s stock worth $464,114,000 after acquiring an additional 344,359 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in Cintas by 10.5% during the second quarter. Brown Advisory Inc. now owns 1,599,614 shares of the business services provider’s stock worth $296,040,000 after acquiring an additional 151,458 shares during the last quarter. 68.72% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on CTAS shares. Robert W. Baird reissued a “buy” rating and set a $215.00 target price on shares of Cintas in a research note on Friday, July 20th. Morgan Stanley lifted their price objective on Cintas from $152.00 to $158.00 and gave the company a “$192.53” rating in a research note on Wednesday, July 18th. Nomura reaffirmed a “hold” rating and issued a $188.00 price objective on shares of Cintas in a research note on Sunday, July 22nd. Credit Suisse Group started coverage on Cintas in a research note on Friday, August 10th. They issued a “neutral” rating and a $205.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Cintas from $162.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, July 20th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $184.58.
Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 19th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.10. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. Cintas had a return on equity of 24.03% and a net margin of 13.01%. Cintas’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. research analysts anticipate that Cintas Co. will post 7.09 EPS for the current year.
Cintas Company Profile
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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