Cintas Corp. (CTAS) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Cintas Corp. (NASDAQ:CTAS) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $125.00 price target on the stock.
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.”
Other equities analysts have also issued research reports about the stock. Nomura reissued a buy rating and issued a $135.00 price target (up previously from $124.00) on shares of Cintas Corp. in a report on Thursday, August 25th. Barclays PLC upped their target price on shares of Cintas Corp. from $105.00 to $110.00 and gave the stock an equal weight rating in a research note on Thursday, August 11th. Oppenheimer Holdings Inc. reaffirmed a market perform rating on shares of Cintas Corp. in a research note on Wednesday, September 28th. Macquarie started coverage on shares of Cintas Corp. in a research note on Thursday, August 25th. They issued a neutral rating and a $130.00 target price for the company. Finally, Piper Jaffray Cos. reaffirmed a neutral rating and issued a $106.00 target price (up from $95.00) on shares of Cintas Corp. in a research note on Wednesday, July 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $117.10.
Cintas Corp. (NASDAQ:CTAS) traded up 0.57% during trading on Wednesday, reaching $111.55. The company’s stock had a trading volume of 128,221 shares. The company has a market cap of $11.70 billion, a P/E ratio of 16.77 and a beta of 0.76. Cintas Corp. has a 52 week low of $80.00 and a 52 week high of $119.94. The company’s 50 day moving average price is $114.71 and its 200 day moving average price is $100.39.
Cintas Corp. (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, September 27th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. Cintas Corp. had a net margin of 14.63% and a return on equity of 24.60%. The company earned $1.29 billion during the quarter. During the same period last year, the firm earned $0.93 EPS. Cintas Corp.’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that Cintas Corp. will post $4.58 earnings per share for the current fiscal year.
In other news, Director Gerald S. Adolph sold 2,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were 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 approximately $1,253,110.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 19.10% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its stake 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. First Personal Financial Services boosted its stake in shares of Cintas Corp. by 38.1% in the second quarter. First Personal Financial Services now owns 1,105 shares of the company’s stock worth $108,000 after buying an additional 305 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Cintas Corp. by 50.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,128 shares of the company’s stock worth $111,000 after buying an additional 377 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake 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. Finally, Glenmede Trust Co. NA boosted its stake in shares of Cintas Corp. by 52.2% in the second quarter. Glenmede Trust Co. NA now owns 1,542 shares of the company’s stock worth $150,000 after buying an additional 529 shares during the last quarter. 65.78% of the stock is currently owned by institutional investors.
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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