Spire Wealth Management Grows Stake in Cintas Corporation $CTAS

Spire Wealth Management increased its position in Cintas Corporation (NASDAQ:CTAS) by 225.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,786 shares of the business services provider’s stock after acquiring an additional 4,704 shares during the quarter. Spire Wealth Management’s holdings in Cintas were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Triumph Capital Management bought a new position in Cintas in the third quarter valued at about $29,000. Alpine Bank Wealth Management grew its stake in shares of Cintas by 1,092.9% during the 3rd quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 153 shares during the period. WPG Advisers LLC increased its position in shares of Cintas by 90.0% during the 3rd quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 81 shares during the last quarter. Aventura Private Wealth LLC bought a new position in shares of Cintas in the 4th quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Cintas by 84.0% in the third quarter. Salomon & Ludwin LLC now owns 184 shares of the business services provider’s stock worth $37,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CTAS shares. Bank of America started coverage on shares of Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price for the company. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research report on Wednesday, March 11th. Citigroup reiterated a “sell” rating and set a $181.00 price target (up from $176.00) on shares of Cintas in a research note on Monday, December 22nd. Stifel Nicolaus cut their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Finally, Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $245.00 in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.92.

Cintas Stock Performance

CTAS opened at $168.66 on Tuesday. The company has a 50 day simple moving average of $192.41 and a two-hundred day simple moving average of $191.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The firm has a market cap of $67.45 billion, a P/E ratio of 49.17, a PEG ratio of 2.97 and a beta of 0.95. Cintas Corporation has a 1-year low of $165.60 and a 1-year high of $229.24.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the firm earned $1.13 EPS. The company’s revenue was up 8.9% on a year-over-year basis. Equities analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Cintas’s dividend payout ratio (DPR) is currently 52.48%.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.