Azzad Asset Management Inc. ADV Grows Stock Position in Cintas Corporation $CTAS

Azzad Asset Management Inc. ADV raised its holdings in Cintas Corporation (NASDAQ:CTAS) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,226 shares of the business services provider’s stock after buying an additional 4,117 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Cintas were worth $5,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. Triumph Capital Management purchased a new stake in Cintas in the third quarter valued at about $29,000. Alpine Bank Wealth Management raised its stake in Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after buying an additional 153 shares during the last quarter. Aventura Private Wealth LLC purchased a new position in shares of Cintas in the fourth quarter worth about $34,000. WPG Advisers LLC raised its stake in shares of Cintas by 90.0% in the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock worth $35,000 after purchasing an additional 81 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in shares of Cintas by 61.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 189 shares of the business services provider’s stock worth $36,000 after purchasing an additional 72 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on CTAS shares. Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. Royal Bank Of Canada restated a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research note on Friday, December 19th. Citigroup reduced their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Finally, Bank of America started coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $215.17.

Cintas Trading Down 1.5%

Shares of NASDAQ:CTAS opened at $171.69 on Tuesday. Cintas Corporation has a 52-week low of $165.60 and a 52-week high of $229.24. The stock has a market cap of $68.66 billion, a price-to-earnings ratio of 48.50, a PEG ratio of 3.12 and a beta of 1.01. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $190.26 and a 200-day moving average price of $190.18.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $1.13 earnings per share. Equities analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, February 13th. Cintas’s dividend payout ratio (DPR) is 50.85%.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.