Cintas Corporation (CTAS) Upgraded to Buy at 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 published on Tuesday. They currently have $168.00 price target 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 also aims to continually achieve revenue build-up by increasing penetration levels at existing customers and broadening the customer base to include fresh business segments. Cintas has outperformed the industry year to date. However, volatility in raw material prices and third-party supply constraints remain potential headwinds for the company.”

Other analysts have also recently issued research reports about the stock. Robert W. Baird reaffirmed an outperform rating and issued a $165.00 price objective (up previously from $152.00) on shares of Cintas Corporation in a report on Thursday, September 28th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Cintas Corporation in a report on Wednesday, September 27th. Deutsche Bank AG reaffirmed a hold rating and issued a $140.00 price objective (up previously from $130.00) on shares of Cintas Corporation in a report on Wednesday, September 27th. William Blair reaffirmed an ourperform rating on shares of Cintas Corporation in a report on Wednesday, September 27th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $138.00 price objective (up previously from $136.00) on shares of Cintas Corporation in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Cintas Corporation currently has an average rating of Hold and a consensus price target of $143.00.

Cintas Corporation (NASDAQ:CTAS) opened at 150.24 on Tuesday. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 29.45 and a beta of 0.86. The firm has a 50-day moving average of $138.12 and a 200-day moving average of $129.71. Cintas Corporation has a 1-year low of $102.07 and a 1-year high of $150.43.

Cintas Corporation (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.18. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Cintas Corporation had a net margin of 9.79% and a return on equity of 23.71%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. On average, analysts expect that Cintas Corporation will post $5.36 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Cintas Corporation (CTAS) Upgraded to Buy at Zacks Investment Research” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://ledgergazette.com/2017/10/11/cintas-corporation-ctas-upgraded-to-buy-at-zacks-investment-research.html.

In other Cintas Corporation news, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total transaction of $267,380.00. Following the transaction, the director now owns 13,135 shares of the company’s stock, valued at approximately $1,756,018.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO J. Michael Hansen sold 800 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $130.75, for a total transaction of $104,600.00. Following the transaction, the chief financial officer now directly owns 54,370 shares in the company, valued at approximately $7,108,877.50. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp increased its stake in Cintas Corporation by 35.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 266,155 shares of the business services provider’s stock valued at $33,546,000 after buying an additional 69,483 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Cintas Corporation by 3.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 270,485 shares of the business services provider’s stock valued at $34,092,000 after buying an additional 9,351 shares during the period. Fifth Third Bancorp increased its stake in Cintas Corporation by 27.5% during the 1st quarter. Fifth Third Bancorp now owns 81,484 shares of the business services provider’s stock valued at $10,311,000 after buying an additional 17,567 shares during the period. Banque Pictet & Cie SA acquired a new position in Cintas Corporation during the 2nd quarter valued at about $8,073,000. Finally, Caldera Capital LLC increased its stake in Cintas Corporation by 32.5% during the 2nd quarter. Caldera Capital LLC now owns 8,149 shares of the business services provider’s stock valued at $1,027,000 after buying an additional 1,999 shares during the period. 64.77% of the stock is currently owned by hedge funds and other institu

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 also aims to continually achieve revenue build-up by increasing penetration levels at existing customers and broadening the customer base to include fresh business segments. Cintas has outperformed the industry year to date. However, volatility in raw material prices and third-party supply constraints remain potential headwinds for the company.”

Other analysts have also recently issued research reports about the stock. Robert W. Baird reaffirmed an outperform rating and issued a $165.00 price objective (up previously from $152.00) on shares of Cintas Corporation in a report on Thursday, September 28th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Cintas Corporation in a report on Wednesday, September 27th. Deutsche Bank AG reaffirmed a hold rating and issued a $140.00 price objective (up previously from $130.00) on shares of Cintas Corporation in a report on Wednesday, September 27th. William Blair reaffirmed an ourperform rating on shares of Cintas Corporation in a report on Wednesday, September 27th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $138.00 price objective (up previously from $136.00) on shares of Cintas Corporation in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Cintas Corporation currently has an average rating of Hold and a consensus price target of $143.00.

Cintas Corporation (NASDAQ:CTAS) opened at 150.24 on Tuesday. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 29.45 and a beta of 0.86. The firm has a 50-day moving average of $138.12 and a 200-day moving average of $129.71. Cintas Corporation has a 1-year low of $102.07 and a 1-year high of $150.43.

Cintas Corporation (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.18. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Cintas Corporation had a net margin of 9.79% and a return on equity of 23.71%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. On average, analysts expect that Cintas Corporation will post $5.36 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Cintas Corporation (CTAS) Upgraded to Buy at Zacks Investment Research” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://ledgergazette.com/2017/10/11/cintas-corporation-ctas-upgraded-to-buy-at-zacks-investment-research.html.

In other Cintas Corporation news, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total transaction of $267,380.00. Following the transaction, the director now owns 13,135 shares of the company’s stock, valued at approximately $1,756,018.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO J. Michael Hansen sold 800 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $130.75, for a total transaction of $104,600.00. Following the transaction, the chief financial officer now directly owns 54,370 shares in the company, valued at approximately $7,108,877.50. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp increased its stake in Cintas Corporation by 35.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 266,155 shares of the business services provider’s stock valued at $33,546,000 after buying an additional 69,483 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Cintas Corporation by 3.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 270,485 shares of the business services provider’s stock valued at $34,092,000 after buying an additional 9,351 shares during the period. Fifth Third Bancorp increased its stake in Cintas Corporation by 27.5% during the 1st quarter. Fifth Third Bancorp now owns 81,484 shares of the business services provider’s stock valued at $10,311,000 after buying an additional 17,567 shares during the period. Banque Pictet & Cie SA acquired a new position in Cintas Corporation during the 2nd quarter valued at about $8,073,000. Finally, Caldera Capital LLC increased its stake in Cintas Corporation by 32.5% during the 2nd quarter. Caldera Capital LLC now owns 8,149 shares of the business services provider’s stock valued at $1,027,000 after buying an additional 1,999 shares during the period. 64.77% of the stock is currently owned by hedge funds and other institutional investors.

About Cintas Corporation

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.

Analyst Recommendations for Cintas Corporation (NASDAQ:CTAS)

Receive News & Ratings for Cintas Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply