OneAscent Wealth Management LLC Invests $208,000 in Cintas Corporation (NASDAQ:CTAS)

OneAscent Wealth Management LLC purchased a new position in Cintas Corporation (NASDAQ:CTASFree Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,011 shares of the business services provider’s stock, valued at approximately $208,000.

Several other large investors also recently added to or reduced their stakes in CTAS. Norges Bank bought a new stake in Cintas during the fourth quarter valued at $877,216,000. GAMMA Investing LLC raised its position in Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider’s stock valued at $465,133,000 after purchasing an additional 2,251,629 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in Cintas during the fourth quarter valued at about $196,057,000. Northern Trust Corp raised its position in Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider’s stock valued at $743,048,000 after purchasing an additional 472,069 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Cintas by 26.7% during the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider’s stock valued at $407,163,000 after purchasing an additional 468,950 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS stock opened at $222.38 on Monday. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average is $220.99 and its 200 day moving average is $208.40. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The stock has a market cap of $89.79 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 3.50 and a beta of 1.05.

Cintas (NASDAQ:CTASGet Free Report) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.99 EPS. Research analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CTAS shares. Robert W. Baird raised their price target on Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday. Argus upgraded Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. Wells Fargo & Company upgraded Cintas from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $224.54.

View Our Latest Research Report on Cintas

Cintas Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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