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. Zacks Investment Research currently has $150.00 price objective 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 synergies from the combined operations post G&K Services’ acquisition are further expected to yield $130 million to $140 million in cost savings from the fourth year of its operation and the transaction is anticipated to be accretive to Cintas’ earnings. Over the years, the company has consistently returned significant cash to its shareholders through dividends and share repurchases. The company’s 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.”
Several other equities research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Cintas Corporation from a sell rating to a hold rating in a research report on Wednesday. Morgan Stanley restated an underweight rating and issued a $117.00 price target (up previously from $107.00) on shares of Cintas Corporation in a research report on Tuesday, July 25th. Royal Bank Of Canada restated a hold rating and issued a $130.00 price target on shares of Cintas Corporation in a research report on Friday, July 21st. Deutsche Bank AG set a $130.00 price target on shares of Cintas Corporation and gave the stock a hold rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus boosted their price target on shares of Cintas Corporation from $123.00 to $136.00 and gave the stock a hold rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $134.92.
Cintas Corporation (NASDAQ:CTAS) traded up 0.739% during mid-day trading on Thursday, hitting $134.185. 239,757 shares of the company traded hands. The firm has a 50 day moving average of $131.82 and a 200 day moving average of $125.14. The firm has a market capitalization of $14.15 billion, a P/E ratio of 30.587 and a beta of 0.84. Cintas Corporation has a one year low of $102.07 and a one year high of $139.74.
Cintas Corporation (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.05 by $0.30. Cintas Corporation had a return on equity of 23.38% and a net margin of 8.90%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities research analysts expect that Cintas Corporation will post $5.23 earnings per share for the current fiscal year.
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In other news, CFO J. Michael Hansen sold 800 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 54,370 shares of the company’s stock, valued at $7,108,877.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald S. Adolph sold 2,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 13,135 shares of the company’s stock, valued at $1,756,018.15. The disclosure for this sale can be found here. 19.10% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of CTAS. First Personal Financial Services raised its stake in shares of Cintas Corporation by 0.8% in the second quarter. First Personal Financial Services now owns 1,147 shares of the business services provider’s stock worth $145,000 after buying an additional 9 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Cintas Corporation by 0.6% in the second quarter. Rehmann Capital Advisory Group now owns 1,674 shares of the business services provider’s stock worth $211,000 after buying an additional 10 shares in the last quarter. QS Investors LLC raised its stake in shares of Cintas Corporation by 1.0% in the second quarter. QS Investors LLC now owns 995 shares of the business services provider’s stock worth $125,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Cintas Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,043 shares of the business services provider’s stock worth $510,000 after buying an additional 11 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Cintas Corporation by 0.8% in the second quarter. D.A. Davidson & CO. now owns 1,574 shares of the business services provider’s stock worth $198,000 after buying an additional 12 shares in the last quarter. 67.55% of the stock is owned by hedge funds and other institutional investors.
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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