Ieq Capital LLC Purchases 279 Shares of Cintas Co. (NASDAQ:CTAS)
Ieq Capital LLC boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 18.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,797 shares of the business services provider’s stock after buying an additional 279 shares during the period. Ieq Capital LLC’s holdings in Cintas were worth $312,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in CTAS. Norges Bank purchased a new stake in Cintas during the 4th quarter valued at $220,839,000. Goldman Sachs Group Inc. raised its holdings in Cintas by 27.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,173,929 shares of the business services provider’s stock valued at $315,881,000 after buying an additional 252,634 shares during the period. Ardevora Asset Management LLP raised its holdings in Cintas by 48,100.0% during the 1st quarter. Ardevora Asset Management LLP now owns 192,800 shares of the business services provider’s stock valued at $33,397,000 after buying an additional 192,400 shares during the period. Alecta Pensionsforsakring Omsesidigt raised its holdings in Cintas by 208.4% during the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 257,500 shares of the business services provider’s stock valued at $44,602,000 after buying an additional 174,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Cintas by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 1,559,970 shares of the business services provider’s stock valued at $419,027,000 after buying an additional 152,848 shares during the period. Institutional investors own 65.33% of the company’s stock.
CTAS has been the topic of several recent research reports. Stifel Nicolaus increased their price target on Cintas from $157.00 to $160.00 and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research lowered Cintas from a “hold” rating to a “sell” rating and set a $240.00 target price on the stock. in a research note on Friday. Morgan Stanley increased their target price on Cintas from $171.00 to $174.00 and gave the stock an “underweight” rating in a research note on Thursday. Robert W. Baird lowered Cintas from an “outperform” rating to a “neutral” rating and set a $175.00 target price on the stock. in a research note on Friday, March 20th. Finally, William Blair lowered Cintas from an “outperform” rating to a “market perform” rating in a research note on Monday, April 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $240.18.
Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, March 19th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. Cintas had a return on equity of 30.73% and a net margin of 13.19%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Cintas Co. will post 7.9 EPS for the current year.
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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