Cintas Co. (NASDAQ:CTAS) Position Reduced by Scalar Gauge Management LLC

Scalar Gauge Management LLC lowered its stake in Cintas Co. (NASDAQ:CTAS) by 14.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,000 shares of the business services provider’s stock after selling 4,000 shares during the period. Cintas accounts for approximately 1.9% of Scalar Gauge Management LLC’s holdings, making the stock its 16th biggest holding. Scalar Gauge Management LLC’s holdings in Cintas were worth $4,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Sound Income Strategies LLC acquired a new position in Cintas in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC bought a new position in Cintas in the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas in the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC grew its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Cintas during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday. Citigroup started coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday. Finally, The Goldman Sachs Group lifted their price target on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $210.58.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $203.22 on Monday. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The firm has a market cap of $82.01 billion, a P/E ratio of 49.00, a PEG ratio of 3.98 and a beta of 1.41. The stock has a fifty day moving average price of $201.01 and a two-hundred day moving average price of $204.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $3.84 earnings per share. Research analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio is currently 36.11%.

Cintas 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.