According to Zacks, “Cintas started fiscal 2017 on a positive note, recording solid first-quarter results on the back of healthy top-line growth and adjusted earnings beating the Zacks Consensus Estimate by $0.03. Cintas’ investment strategy takes a holistic view of the rapidly evolving market and deploys a dynamic capital allocation approach to focus on the relative value of the various sectors within the broader industry. The acquisition of rival G&K Services Inc. is likely to fuel its growth momentum, catering to over one billion business customers with an extended product portfolio and additional processing capacity. Buoyed by the healthy first-quarter fiscal 2017 results, Cintas has also increased its guidance for fiscal 2017. However, persistent challenging macroeconomic environment has mostly driven customers to perform certain in-house services instead of outsourcing these services to Cintas, which have resulted in loss of businesses.”
A number of other equities research analysts have also recently weighed in on CTAS. Nomura restated a buy rating and issued a $102.00 price target on shares of Cintas Corp. in a research note on Friday, July 15th. Piper Jaffray Cos. restated a neutral rating and issued a $106.00 price target (up previously from $95.00) on shares of Cintas Corp. in a research note on Wednesday, July 20th. Barclays PLC lowered their price objective on Cintas Corp. from $105.00 to $95.00 and set an equal weight rating on the stock in a research report on Wednesday, July 20th. Morgan Stanley reiterated an underweight rating and set a $80.00 price objective (up previously from $75.00) on shares of Cintas Corp. in a research report on Wednesday, August 17th. Finally, Robert W. Baird upgraded Cintas Corp. from a neutral rating to an outperform rating and increased their price objective for the stock from $111.00 to $140.00 in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $117.10.
Cintas Corp. (NASDAQ:CTAS) opened at 110.78 on Wednesday. The company has a market capitalization of $11.62 billion, a PE ratio of 16.65 and a beta of 0.76. Cintas Corp. has a 12-month low of $80.00 and a 12-month high of $119.94. The company has a 50 day moving average price of $114.42 and a 200-day moving average price of $100.96.
Cintas Corp. (NASDAQ:CTAS) last posted its quarterly earnings results on Tuesday, September 27th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. Cintas Corp. had a return on equity of 24.60% and a net margin of 14.63%. The business had revenue of $1.29 billion for the quarter. During the same quarter last year, the company posted $0.93 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, analysts anticipate that Cintas Corp. will post $4.60 EPS for the current year.
In related news, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $108.12, for a total value of $216,240.00. Following the sale, the director now directly owns 11,590 shares of the company’s stock, valued at $1,253,110.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 19.10% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. First Personal Financial Services raised its stake in Cintas Corp. by 38.1% in the second quarter. First Personal Financial Services now owns 1,105 shares of the company’s stock valued at $108,000 after buying an additional 305 shares during the period. Mizuho Asset Management Co. Ltd. increased its position in Cintas Corp. by 50.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,128 shares of the company’s stock valued at $111,000 after buying an additional 377 shares in the last quarter. Quadrant Capital Group LLC increased its position in Cintas Corp. by 0.8% in the second quarter. Quadrant Capital Group LLC now owns 1,129 shares of the company’s stock valued at $106,000 after buying an additional 9 shares in the last quarter. Checchi Capital Advisers LLC increased its position in Cintas Corp. by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,376 shares of the company’s stock valued at $135,000 after buying an additional 11 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in Cintas Corp. by 52.2% in the second quarter. Glenmede Trust Co. NA now owns 1,542 shares of the company’s stock valued at $150,000 after buying an additional 529 shares in the last quarter. 67.01% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cintas Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas Corp. and related companies with MarketBeat.com's FREE daily email newsletter.