Ibex Wealth Advisors Invests $249,000 in Cintas Co. (NASDAQ:CTAS)

Ibex Wealth Advisors bought a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,365 shares of the business services provider’s stock, valued at approximately $249,000.

A number of other institutional investors have also recently added to or reduced their stakes in CTAS. Financial Management Professionals Inc. lifted its stake in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Hollencrest Capital Management raised its holdings in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the period. Sound Income Strategies LLC acquired a new position in Cintas during the 4th quarter worth approximately $27,000. Addison Advisors LLC boosted its holdings in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the period. Finally, Grove Bank & Trust grew its position in Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group reduced their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. The Goldman Sachs Group lowered their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Wells Fargo & Company lowered their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and an average price target of $198.46.

Cintas Stock Performance

Cintas stock opened at $198.56 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 12 month low of $149.70 and a 12 month high of $228.12. The company has a fifty day moving average price of $202.36 and a two-hundred day moving average price of $206.39. The company has a market cap of $80.13 billion, a PE ratio of 47.87, a P/E/G ratio of 3.84 and a beta of 1.37.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.61 EPS. Research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is 37.61%.

Cintas Profile

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.