Bank of Nova Scotia Sells 29,701 Shares of Cintas Corporation $CTAS

Bank of Nova Scotia lowered its stake in Cintas Corporation (NASDAQ:CTAS) by 22.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,320 shares of the business services provider’s stock after selling 29,701 shares during the quarter. Bank of Nova Scotia’s holdings in Cintas were worth $16,969,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. One Capital Management LLC boosted its position in Cintas by 0.9% in the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock worth $1,159,000 after purchasing an additional 53 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Cintas by 1.1% in the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock worth $951,000 after buying an additional 54 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Cintas by 0.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock valued at $1,236,000 after buying an additional 58 shares during the period. Mather Group LLC. grew its position in Cintas by 1.4% during the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock valued at $824,000 after buying an additional 59 shares during the period. Finally, Woodward Diversified Capital LLC increased its holdings in Cintas by 4.8% during the fourth quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock valued at $242,000 after buying an additional 59 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Up 1.3%

Shares of NASDAQ CTAS opened at $205.91 on Friday. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The firm has a market cap of $82.38 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.94. The business has a fifty day simple moving average of $179.30 and a two-hundred day simple moving average of $183.35. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Analysts expect that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of recent research reports. Wells Fargo & Company reissued an “overweight” rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research note on Thursday, July 16th. Robert W. Baird raised their price objective on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Truist Financial reduced their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Finally, Citigroup reduced their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

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.