Cintas Corp. (CTAS) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cintas Corp. (NASDAQ:CTAS) from a hold rating to a buy rating in a research note published on Thursday morning. The firm currently has $129.00 target price on the stock.

According to Zacks, “Cintas started fiscal 2017 on a positive note on the back of healthy top-line growth. The company has a positive earnings history, beating estimates in each of the trailing four quarters. Cintas’ investment strategy takes a holistic view of the rapidly evolving market and deploys a dynamic capital allocation approach to fuel growth. The acquisition of rival G&K Services is likely to fuel its growth momentum with an extended product portfolio and additional processing capacity. Cintas has also increased its guidance for fiscal 2017. In addition, healthy organic growth over the past few quarters has lent stability to the revenues and has enabled the company to comfortably beat earnings estimates in each of the trailing four quarters for a positive earnings surprise. However, persistent challenging macroeconomic environment has mostly driven customers to perform certain in-house services themselves, resulting in a loss of businesses.”

Several other research analysts have also weighed in on CTAS. Barclays PLC lifted their price objective on Cintas Corp. from $105.00 to $110.00 and gave the stock an equal weight rating in a research report on Thursday, August 11th. Morgan Stanley restated an underweight rating and issued a $80.00 target price (up from $75.00) on shares of Cintas Corp. in a research note on Wednesday, August 17th. Robert W. Baird upgraded Cintas Corp. from a neutral rating to an outperform rating and raised their target price for the company from $111.00 to $140.00 in a research note on Wednesday, August 17th. KeyCorp raised their target price on Cintas Corp. from $110.00 to $130.00 and gave the company an overweight rating in a research note on Wednesday, August 17th. Finally, Nomura restated a buy rating and issued a $124.00 target price (up from $107.00) on shares of Cintas Corp. in a research note on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Cintas Corp. currently has a consensus rating of Hold and a consensus price target of $117.50.

Analyst Recommendations for Cintas Corp. (NASDAQ:CTAS)

Shares of Cintas Corp. (NASDAQ:CTAS) opened at 116.13 on Thursday. Cintas Corp. has a 1-year low of $80.00 and a 1-year high of $119.94. The firm has a 50-day moving average price of $108.49 and a 200 day moving average price of $105.52. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 17.46 and a beta of 0.86.

Cintas Corp. (NASDAQ:CTAS) last posted its quarterly earnings data on Tuesday, September 27th. The company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.18. Cintas Corp. had a return on equity of 24.60% and a net margin of 14.63%. The firm earned $1.29 billion during the quarter. During the same period last year, the business posted $0.93 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, analysts predict that Cintas Corp. will post $4.60 EPS for the current fiscal year.

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The firm also recently announced an annual dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 4th will be paid a $1.33 dividend. This represents a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, November 2nd. This is an increase from Cintas Corp.’s previous annual dividend of $1.05. Cintas Corp.’s payout ratio is presently 20.24%.

Several institutional investors have recently made changes to their positions in CTAS. Quadrant Capital Group LLC increased its position in shares of Cintas Corp. by 0.8% in the second quarter. Quadrant Capital Group LLC now owns 1,129 shares of the company’s stock worth $106,000 after buying an additional 9 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Cintas Corp. by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,376 shares of the company’s stock worth $135,000 after buying an additional 11 shares during the last quarter. First Personal Financial Services increased its position in shares of Cintas Corp. by 2.3% in the third quarter. First Personal Financial Services now owns 1,130 shares of the company’s stock worth $127,000 after buying an additional 25 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Cintas Corp. by 1.1% in the second quarter. Suntrust Banks Inc. now owns 2,484 shares of the company’s stock worth $242,000 after buying an additional 26 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Cintas Corp. by 1.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,296 shares of the company’s stock worth $520,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 65.23% of the company’s stock.

Cintas Corp. Company Profile

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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