Searle & CO. Acquires 5,400 Shares of Cintas Co. (NASDAQ:CTAS)

Searle & CO. lifted its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,200 shares of the business services provider’s stock after acquiring an additional 5,400 shares during the quarter. Searle & CO.’s holdings in Cintas were worth $1,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. LGT Financial Advisors LLC raised its holdings 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 period. Atwood & Palmer Inc. bought a new position in shares of Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas during the 1st quarter worth approximately $29,000. Grove Bank & Trust increased its holdings in shares of Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in 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 purchasing an additional 34 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.8 %

Shares of NASDAQ CTAS traded down $1.77 during mid-day trading on Wednesday, reaching $209.77. 165,940 shares of the company’s stock traded hands, compared to its average volume of 1,464,081. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The business has a 50-day simple moving average of $215.48 and a 200 day simple moving average of $189.75. The stock has a market cap of $21.28 billion, a P/E ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during 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 for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 earnings per share. On average, analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its board has approved a share buyback program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Barclays increased their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus boosted their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Jefferies Financial Group lowered their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Finally, Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $199.63.

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.