Cintas Corp. (NASDAQ:CTAS) announced its earnings results on Tuesday. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. Cintas Corp. had a return on equity of 24.16% and a net margin of 14.14%. The company earned $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business posted $0.93 EPS. Cintas Corp.’s revenue for the quarter was up 7.6% on a year-over-year basis. Cintas Corp. updated its FY17 guidance to $4.55-$4.63 EPS.
Shares of Cintas Corp. (NASDAQ:CTAS) opened at 113.43 on Wednesday. Cintas Corp. has a 12 month low of $80.00 and a 12 month high of $119.94. The stock’s 50 day moving average price is $113.99 and its 200 day moving average price is $99.48. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 18.17 and a beta of 0.85.
CTAS has been the subject of a number of research analyst reports. Zacks Investment Research cut Cintas Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. Nomura restated a “buy” rating and set a $102.00 target price on shares of Cintas Corp. in a report on Friday, July 15th. Piper Jaffray Cos. restated a “neutral” rating and set a $106.00 target price (up from $95.00) on shares of Cintas Corp. in a report on Wednesday, July 20th. Barclays PLC lowered their target price on Cintas Corp. from $105.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday, July 20th. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 target price (up from $75.00) on shares of Cintas Corp. in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $115.40.
In other Cintas Corp. news, Director Gerald S. Adolph sold 2,000 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $108.12, for a total transaction of $216,240.00. Following the completion of the sale, the director now directly owns 11,590 shares in the company, valued at $1,253,110.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.10% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CTAS. BlackRock Fund Advisors raised its stake in shares of Cintas Corp. by 67.3% in the second quarter. BlackRock Fund Advisors now owns 2,298,352 shares of the company’s stock valued at $225,537,000 after buying an additional 924,422 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Cintas Corp. by 4.2% in the second quarter. BlackRock Group LTD now owns 963,543 shares of the company’s stock valued at $94,552,000 after buying an additional 38,406 shares in the last quarter. BlackRock Japan Co. Ltd raised its stake in shares of Cintas Corp. by 9.5% in the second quarter. BlackRock Japan Co. Ltd now owns 196,766 shares of the company’s stock valued at $19,309,000 after buying an additional 16,991 shares in the last quarter. Tredje AP fonden purchased a new stake in shares of Cintas Corp. during the second quarter valued at approximately $932,000. Finally, Commonwealth Bank of Australia raised its stake in shares of Cintas Corp. by 4.3% in the second quarter. Commonwealth Bank of Australia now owns 9,390 shares of the company’s stock valued at $922,000 after buying an additional 391 shares in the last quarter. Institutional investors own 65.78% of the company’s stock.
About Cintas Corp.
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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