Convergence Investment Partners LLC Takes Position in Cintas Co. (NASDAQ:CTAS)

Convergence Investment Partners LLC bought a new stake in Cintas Co. (NASDAQ:CTAS) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,144 shares of the business services provider’s stock, valued at approximately $571,000.

Several other large investors have also recently modified their holdings of CTAS. Korea Investment CORP raised its position in shares of Cintas by 426.7% in the 1st quarter. Korea Investment CORP now owns 251,775 shares of the business services provider’s stock valued at $43,612,000 after buying an additional 203,975 shares in the last quarter. Ardevora Asset Management LLP raised its position in shares of Cintas by 48,100.0% in the 1st quarter. Ardevora Asset Management LLP now owns 192,800 shares of the business services provider’s stock valued at $33,397,000 after buying an additional 192,400 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt raised its position in shares of Cintas by 208.4% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 257,500 shares of the business services provider’s stock valued at $44,602,000 after buying an additional 174,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Cintas by 34.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 615,312 shares of the business services provider’s stock valued at $163,895,000 after buying an additional 156,168 shares in the last quarter. Finally, London Co. of Virginia raised its position in shares of Cintas by 44.2% in the 1st quarter. London Co. of Virginia now owns 465,276 shares of the business services provider’s stock valued at $80,595,000 after buying an additional 142,707 shares in the last quarter. Institutional investors own 63.51% of the company’s stock.

CTAS traded up $0.06 during trading on Friday, reaching $301.87. 736,603 shares of the company’s stock were exchanged, compared to its average volume of 471,940. Cintas Co. has a one year low of $154.33 and a one year high of $311.02. The company has a current ratio of 2.61, a quick ratio of 2.15 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $31.24 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 3.85 and a beta of 1.44. The firm has a fifty day moving average price of $274.99 and a two-hundred day moving average price of $251.04.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, July 23rd. The business services provider reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.13. Cintas had a net margin of 12.36% and a return on equity of 27.57%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm posted $2.07 EPS. The company’s quarterly revenue was down 9.7% on a year-over-year basis. Sell-side analysts expect that Cintas Co. will post 8.14 earnings per share for the current year.

A number of equities analysts recently issued reports on CTAS shares. Credit Suisse Group upped their price objective on shares of Cintas from $200.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Oppenheimer reiterated a “hold” rating on shares of Cintas in a research report on Sunday, July 26th. Bank of America cut shares of Cintas from a “buy” rating to a “neutral” rating and set a $255.00 price objective for the company. in a research report on Wednesday, May 27th. They noted that the move was a valuation call. Stifel Nicolaus upped their price objective on shares of Cintas from $249.00 to $288.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Finally, BidaskClub upgraded shares of Cintas from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Cintas has a consensus rating of “Hold” and an average target price of $263.70.

About Cintas

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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