Valley National Advisers Inc. Purchases 8,760 Shares of Cintas Co. (NASDAQ:CTAS)

Valley National Advisers Inc. lifted its position in Cintas Co. (NASDAQ:CTAS) by 87,600.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,770 shares of the business services provider’s stock after acquiring an additional 8,760 shares during the quarter. Valley National Advisers Inc.’s holdings in Cintas were worth $1,805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its position in Cintas by 311.1% during 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. Financial Management Professionals Inc. boosted its stake in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas during the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas during the first quarter valued at approximately $29,000. Finally, Grove Bank & Trust raised its stake in Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after buying an additional 134 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

CTAS has been the topic of a number of analyst reports. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Robert W. Baird increased their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Morgan Stanley lifted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

Shares of CTAS stock opened at $207.41 on Friday. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. 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 fifty day moving average of $216.53 and a 200 day moving average of $190.43. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37.

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

Cintas announced that its board has approved a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board 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.