Peoples Bank OH Purchases 2,428 Shares of Cintas Co. (NASDAQ:CTAS)

Peoples Bank OH lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 277.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,304 shares of the business services provider’s stock after purchasing an additional 2,428 shares during the quarter. Peoples Bank OH’s holdings in Cintas were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CTAS. Checchi Capital Advisers LLC raised its holdings in Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after buying an additional 14 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares during the last quarter. Field & Main Bank raised its holdings in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after acquiring an additional 15 shares during the last quarter. Drive Wealth Management LLC lifted its position in Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association boosted its stake in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 16 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS traded up $0.30 on Thursday, reaching $210.01. The company’s stock had a trading volume of 288,162 shares, compared to its average volume of 1,461,641. 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 stock has a market capitalization of $21.31 billion, a P/E ratio of 14.48, a PEG ratio of 4.12 and a beta of 1.32. The stock’s 50 day simple moving average is $215.86 and its two-hundred day simple moving average is $189.89. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $215.37.

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

Cintas announced that its board has initiated a stock repurchase plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CTAS shares. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Royal Bank of Canada raised their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Barclays raised their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Finally, Morgan Stanley raised their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $199.63.

About Cintas

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.