Cintas Corporation (CTAS) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Cintas Corporation (NASDAQ:CTAS) from a hold rating to a buy rating in a research note released on Thursday. They currently have $153.00 target price on the business services provider’s stock.
According to Zacks, “Cintas aims to continually achieve revenue build-up by increasing penetration levels at existing customers and broadening the customer base. The acquisition of G&K Services is anticipated to be accretive to Cintas’ earnings. The combined company is likely to cater to over one billion business customers with an extended product portfolio and additional processing capacity. The synergies from the combined operations are expected to yield $130 million to $140 million in cost savings from the fourth year of its operation. 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. Cintas has also outperformed the industry year to date. However, volatility in raw material prices and third-party supply constraints remain potential headwinds for the company.”
A number of other brokerages also recently commented on CTAS. BidaskClub upgraded shares of Cintas Corporation from a sell rating to a hold rating in a research report on Wednesday, August 23rd. Royal Bank Of Canada restated a hold rating and issued a $130.00 price objective on shares of Cintas Corporation in a research report on Friday, July 21st. Nomura downgraded shares of Cintas Corporation from a buy rating to a neutral rating in a research report on Wednesday, June 28th. Morgan Stanley restated an underweight rating and issued a $117.00 price objective (up previously from $107.00) on shares of Cintas Corporation in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus raised their price objective on shares of Cintas Corporation from $123.00 to $136.00 and gave the company a hold rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $135.70.
Cintas Corporation (NASDAQ CTAS) opened at 136.65 on Thursday. The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 31.15 and a beta of 0.85. The company has a 50 day moving average price of $133.77 and a 200 day moving average price of $127.29. Cintas Corporation has a 52 week low of $102.07 and a 52 week high of $139.74.
Cintas Corporation (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.30). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. Cintas Corporation had a net margin of 8.90% and a return on equity of 23.38%. Cintas Corporation’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. Analysts expect that Cintas Corporation will post $5.22 EPS for the current fiscal year.
In other news, Director Gerald S. Adolph sold 2,000 shares of Cintas Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total transaction of $267,380.00. Following the completion of the sale, the director now directly owns 13,135 shares in the company, valued at approximately $1,756,018.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO J. Michael Hansen sold 800 shares of Cintas Corporation stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $130.75, for a total transaction of $104,600.00. Following the sale, the chief financial officer now owns 54,370 shares of the company’s stock, valued at $7,108,877.50. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of CTAS. Parallel Advisors LLC lifted its position in shares of Cintas Corporation by 19.4% during the 1st quarter. Parallel Advisors LLC now owns 862 shares of the business services provider’s stock valued at $104,000 after acquiring an additional 140 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Cintas Corporation during the 2nd quarter valued at approximately $120,000. QS Investors LLC lifted its position in shares of Cintas Corporation by 1.0% during the 2nd quarter. QS Investors LLC now owns 995 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 10 shares during the period. YorkBridge Wealth Partners LLC lifted its position in shares of Cintas Corporation by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,056 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 33 shares during the period. Finally, First Personal Financial Services lifted its position in shares of Cintas Corporation by 0.8% during the 2nd quarter. First Personal Financial Services now owns 1,147 shares of the business services provider’s stock valued at $145,000 after acquiring an additional 9 shares during the period. Institutional investors own 64.76% of the company’s stock.
Cintas Corporation 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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