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. The firm currently has $125.00 target price 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.”
CTAS has been the subject of a number of other reports. Barclays PLC decreased their price target on Cintas Corp. from $105.00 to $95.00 and set an equal weight rating for the company in a research note on Wednesday, July 20th. Nomura reaffirmed a buy rating and set a $102.00 price target on shares of Cintas Corp. in a research note on Friday, July 15th. Robert W. Baird reaffirmed an outperform rating and set a $140.00 price target on shares of Cintas Corp. in a research note on Friday, September 30th. Oppenheimer Holdings Inc. reaffirmed a market perform rating on shares of Cintas Corp. in a research note on Wednesday, September 28th. Finally, KeyCorp increased their price target on Cintas Corp. from $130.00 to $135.00 and gave the company an overweight rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $117.10.
Cintas Corp. (NASDAQ:CTAS) traded up 0.54% during trading on Wednesday, reaching $111.52. The company had a trading volume of 128,020 shares. The stock has a market cap of $11.70 billion, a PE ratio of 16.76 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 has a 50-day moving average price of $114.71 and a 200 day moving average price of $100.39.
Cintas Corp. (NASDAQ:CTAS) last issued its quarterly earnings data on Tuesday, September 27th. The company reported $1.26 earnings per share (EPS) for the quarter, topping 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 earned $1.29 billion during the quarter. During the same period last year, the company earned $0.93 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts anticipate that Cintas Corp. will post $4.58 earnings per share for the current year.
In other Cintas Corp. 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 transaction of $216,240.00. Following the transaction, the director now directly owns 11,590 shares in the company, valued at $1,253,110.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 19.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Williams Jones & Associates LLC raised its position in Cintas Corp. by 10.8% in the second quarter. Williams Jones & Associates LLC now owns 13,794 shares of the company’s stock valued at $1,354,000 after buying an additional 1,344 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Cintas Corp. during the second quarter valued at $343,000. Kentucky Retirement Systems bought a new position in Cintas Corp. during the second quarter valued at $723,000. Mason Street Advisors LLC bought a new position in Cintas Corp. during the second quarter valued at $1,146,000. Finally, Royal Bank of Canada raised its position in Cintas Corp. by 108.2% in the second quarter. Royal Bank of Canada now owns 353,658 shares of the company’s stock valued at $34,705,000 after buying an additional 183,781 shares during the period. Institutional investors own 65.78% 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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