Royal London Asset Management Ltd. Takes Position in Cintas Co. (CTAS)

Royal London Asset Management Ltd. acquired a new stake in Cintas Co. (NASDAQ:CTAS) in the second quarter, Holdings Channel reports. The firm acquired 35,360 shares of the business services provider’s stock, valued at approximately $6,544,000.

Other large investors have also recently bought and sold shares of the company. Fort L.P. acquired a new position in shares of Cintas in the second quarter valued at approximately $118,000. Moneta Group Investment Advisors LLC acquired a new position in shares of Cintas in the first quarter valued at approximately $114,000. Edge Wealth Management LLC acquired a new position in shares of Cintas in the second quarter valued at approximately $133,000. Daiwa SB Investments Ltd. acquired a new position in shares of Cintas in the second quarter valued at approximately $143,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of Cintas in the first quarter valued at approximately $149,000. 68.70% of the stock is owned by institutional investors and hedge funds.

Shares of CTAS stock opened at $212.96 on Wednesday. Cintas Co. has a one year low of $136.07 and a one year high of $217.34. The company has a quick ratio of 2.19, a current ratio of 2.55 and a debt-to-equity ratio of 0.84. The company has a market cap of $22.95 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.48 and a beta of 0.98.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Tuesday, September 25th. The business services provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.80 by $0.13. Cintas had a net margin of 13.01% and a return on equity of 24.03%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business posted $1.45 earnings per share. Cintas’s revenue for the quarter was up 5.4% compared to the same quarter last year. research analysts anticipate that Cintas Co. will post 7.09 EPS for the current year.

A number of research firms have recently weighed in on CTAS. Robert W. Baird reissued a “buy” rating and issued a $215.00 price objective on shares of Cintas in a research report on Friday, July 20th. Credit Suisse Group initiated coverage on shares of Cintas in a research report on Friday, August 10th. They set a “neutral” rating and a $205.00 price target for the company. Nomura reaffirmed a “hold” rating and set a $188.00 price target on shares of Cintas in a research report on Sunday, July 22nd. Barclays upped their price target on shares of Cintas from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, July 20th. Finally, Zacks Investment Research lowered shares of Cintas from a “buy” rating to a “hold” rating in a research report on Monday, June 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Cintas has an average rating of “Buy” and a consensus target price of $186.25.

Cintas Company Profile

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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