Independent Advisor Alliance grew its position in Cintas Co. (NASDAQ:CTAS) by 24.9% in the 1st quarter, Holdings Channel reports. The firm owned 8,853 shares of the business services provider’s stock after purchasing an additional 1,763 shares during the period. Independent Advisor Alliance’s holdings in Cintas were worth $1,789,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CTAS. Nelson Roberts Investment Advisors LLC purchased a new stake in Cintas during the fourth quarter worth about $25,000. Capital Financial Planning LLC purchased a new stake in Cintas during the fourth quarter worth about $29,000. Financial Gravity Wealth Inc. purchased a new stake in Cintas during the first quarter worth about $36,000. CWM LLC increased its stake in shares of Cintas by 52.4% in the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. Finally, Washington Trust Bank purchased a new position in shares of Cintas in the first quarter worth about $45,000. Institutional investors own 67.15% of the company’s stock.

Cintas stock traded up $2.57 during mid-day trading on Thursday, hitting $224.12. 1,916 shares of the company traded hands, compared to its average volume of 484,591. Cintas Co. has a one year low of $155.98 and a one year high of $223.99. The firm has a market cap of $22.64 billion, a PE ratio of 37.73, a PEG ratio of 2.38 and a beta of 1.08. 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 announced its earnings results on Thursday, March 21st. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.13. Cintas had a net margin of 12.44% and a return on equity of 25.85%. The business had revenue of $1.68 million during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business posted $1.37 earnings per share. Cintas’s revenue for the quarter was down 99.9% on a year-over-year basis. As a group, research analysts anticipate that Cintas Co. will post 7.46 earnings per share for the current year.

In other Cintas news, VP Thomas E. Frooman sold 2,415 shares of Cintas stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $207.81, for a total transaction of $501,861.15. Following the completion of the sale, the vice president now directly owns 122,251 shares in the company, valued at $25,404,980.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 6,255 shares of Cintas stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the sale, the director now owns 7,973 shares of the company’s stock, valued at $1,771,600.60. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.

Several equities analysts have recently weighed in on CTAS shares. BidaskClub downgraded shares of Cintas from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. ValuEngine upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Morgan Stanley lifted their target price on shares of Cintas from $163.00 to $172.00 and gave the stock an “underweight” rating in a research note on Friday, March 22nd. Zacks Investment Research downgraded shares of Cintas from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cintas presently has an average rating of “Buy” and a consensus price target of $194.45.

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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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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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