HB Wealth Management LLC Purchases 1,492 Shares of Cintas Corporation (NASDAQ:CTAS)

HB Wealth Management LLC increased its position in Cintas Corporation (NASDAQ:CTAS) by 21.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,292 shares of the business services provider’s stock after acquiring an additional 1,492 shares during the period. HB Wealth Management LLC’s holdings in Cintas were worth $1,704,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 134 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its holdings in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 181 shares during the period. Washington Trust Advisors Inc. bought a new stake in Cintas during the first quarter valued at about $46,000. Olde Wealth Management LLC bought a new stake in Cintas during the first quarter valued at about $55,000. Finally, Physician Wealth Advisors Inc. bought a new stake in Cintas during the fourth quarter valued at about $59,000. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

NASDAQ:CTAS opened at $220.38 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $88.99 billion, a P/E ratio of 49.97, a P/E/G ratio of 3.51 and a beta of 1.05. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The business’s 50-day moving average is $221.39 and its 200 day moving average is $209.76.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.99 earnings per share. On average, equities research analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Martin Mucci acquired 1,200 shares of Cintas stock in a transaction on Monday, July 21st. The shares were bought at an average cost of $222.55 per share, with a total value of $267,060.00. Following the completion of the purchase, the director directly owned 2,621 shares of the company’s stock, valued at $583,303.55. The trade was a 84.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 15.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. Robert W. Baird boosted their price target on Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 18th. The Goldman Sachs Group boosted their price target on Cintas from $233.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Bank of America assumed coverage on Cintas in a research report on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $224.54.

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.