Mowery & Schoenfeld Wealth Management LLC Purchases 346 Shares of Cintas Co. (NASDAQ:CTAS)

Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 5,766.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 352 shares of the business services provider’s stock after acquiring an additional 346 shares during the quarter. Mowery & Schoenfeld Wealth Management LLC’s holdings in Cintas were worth $72,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CTAS. LGT Financial Advisors LLC boosted its stake in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Cintas in the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas during the 1st quarter worth $29,000. Meeder Asset Management Inc. raised its position in shares of Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the last quarter. Finally, Webster Bank N. A. acquired a new position in shares of Cintas in the 1st quarter valued at $38,000. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CTAS. Morgan Stanley lifted their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Royal Bank of Canada upped their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Robert W. Baird upped their target price on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 0.2 %

Cintas stock traded up $0.38 during midday trading on Thursday, reaching $210.09. The stock had a trading volume of 220,324 shares, compared to its average volume of 1,461,311. The stock has a market capitalization of $21.32 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The firm’s fifty day simple moving average is $215.86 and its 200-day simple moving average is $189.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $3.70 earnings per share. As a group, analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its board has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other 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, as well as sells uniforms.