1ST Source Bank Sells 148 Shares of Cintas Co. (NASDAQ:CTAS)

1ST Source Bank reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 9.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,504 shares of the business services provider’s stock after selling 148 shares during the period. 1ST Source Bank’s holdings in Cintas were worth $275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. Sound Income Strategies LLC bought a new position in shares of Cintas during the 4th quarter valued at approximately $27,000. Endeavor Private Wealth Inc. bought a new position in shares of Cintas during the 4th quarter valued at approximately $31,000. IAG Wealth Partners LLC grew its position in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Cintas during the 4th quarter valued at approximately $34,000. Finally, OFI Invest Asset Management bought a new position in shares of Cintas during the 4th quarter valued at approximately $37,000. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CTAS. The Goldman Sachs Group dropped their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. UBS Group dropped their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Robert W. Baird dropped their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley upped their price target on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $199.79.

Cintas Price Performance

CTAS stock opened at $195.17 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 52 week low of $155.89 and a 52 week high of $228.12. The firm’s fifty day moving average is $200.22 and its 200 day moving average is $209.17. The firm has a market cap of $78.76 billion, a P/E ratio of 47.06, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last released its 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm earned $3.61 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

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.