Cintas Co. (CTAS) Stake Boosted by Morgan Stanley

Morgan Stanley grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 31.9% in the 2nd quarter, Holdings Channel reports. The fund owned 345,973 shares of the business services provider’s stock after buying an additional 83,764 shares during the quarter. Morgan Stanley’s holdings in Cintas were worth $64,029,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of Cintas by 19.7% during the second quarter. Toronto Dominion Bank now owns 55,976 shares of the business services provider’s stock valued at $10,357,000 after acquiring an additional 9,199 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Cintas by 30.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 11,262 shares of the business services provider’s stock valued at $2,084,000 after acquiring an additional 2,626 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Cintas by 12.6% during the second quarter. Bessemer Group Inc. now owns 1,297,097 shares of the business services provider’s stock valued at $240,054,000 after acquiring an additional 145,128 shares during the last quarter. 1ST Source Bank bought a new position in shares of Cintas during the second quarter valued at about $201,000. Finally, Pitcairn Co. raised its stake in shares of Cintas by 10.2% during the second quarter. Pitcairn Co. now owns 11,674 shares of the business services provider’s stock valued at $2,161,000 after acquiring an additional 1,084 shares during the last quarter. 68.70% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on CTAS shares. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $202.00 price objective for the company in a research note on Wednesday, May 30th. Morgan Stanley upped their price objective on shares of Cintas from $152.00 to $158.00 and gave the company a “$192.53” rating in a research note on Wednesday, July 18th. Stifel Nicolaus upped their price objective on shares of Cintas from $162.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, July 20th. Robert W. Baird reissued a “buy” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, July 20th. Finally, Barclays increased their price target on shares of Cintas from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $190.42.

CTAS stock opened at $201.16 on Thursday. Cintas Co. has a 1 year low of $141.76 and a 1 year high of $217.34. The stock has a market capitalization of $23.15 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.50 and a beta of 0.98. The company has a quick ratio of 2.19, a current ratio of 2.55 and a debt-to-equity ratio of 0.84.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, September 25th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.13. Cintas had a net margin of 12.72% and a return on equity of 25.25%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm earned $1.45 earnings per share. Cintas’s revenue was up 5.4% on a year-over-year basis. equities analysts anticipate that Cintas Co. will post 7.09 earnings per share for the current fiscal year.

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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