Cintas Corp. (CTAS) Trading 2.3% Higher Following Earnings Beat
Cintas Corp. (NASDAQ:CTAS) traded up 2.3% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $118.90 and last traded at $116.06, with a volume of 850,608 shares trading hands. The stock had previously closed at $113.43.
The company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.18. Cintas Corp. had a net margin of 14.14% and a return on equity of 24.16%. The firm earned $1.29 billion during the quarter. During the same period in the previous year, the company posted $0.93 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis.
Several equities research analysts have commented on the stock. Macquarie assumed 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. Nomura reaffirmed a “buy” rating and issued a $135.00 target price (up previously from $124.00) on shares of Cintas Corp. in a research note on Thursday, August 25th. Zacks Investment Research downgraded shares of Cintas Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. KeyCorp increased their price objective on shares of Cintas Corp. from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Finally, Robert W. Baird raised shares of 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Cintas Corp. has a consensus rating of “Hold” and an average target price of $115.40.
In other Cintas Corp. news, Director Gerald S. Adolph sold 2,000 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $108.12, for a total value of $216,240.00. Following the completion of the sale, the director now owns 11,590 shares in the company, valued at $1,253,110.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. boosted its stake in shares of Cintas Corp. by 158.5% in the first quarter. First Republic Investment Management Inc. now owns 326,334 shares of the company’s stock worth $29,307,000 after buying an additional 200,096 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas Corp. by 2.1% in the first quarter. Geode Capital Management LLC now owns 806,175 shares of the company’s stock worth $72,271,000 after buying an additional 16,574 shares in the last quarter. Callahan Advisors LLC boosted its stake in shares of Cintas Corp. by 18.3% in the second quarter. Callahan Advisors LLC now owns 19,010 shares of the company’s stock worth $1,865,000 after buying an additional 2,945 shares in the last quarter. Virginia Retirement System purchased a new stake in shares of Cintas Corp. during the first quarter worth approximately $6,061,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Cintas Corp. by 6.7% in the second quarter. Nisa Investment Advisors LLC now owns 53,196 shares of the company’s stock worth $5,220,000 after buying an additional 3,340 shares in the last quarter. Hedge funds and other institutional investors own 65.78% of the company’s stock.
The company’s 50 day moving average price is $113.99 and its 200 day moving average price is $99.48. The stock has a market capitalization of $12.11 billion, a PE ratio of 18.62 and a beta of 0.85.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.