Zacks Investment Research upgraded shares of Cintas (NASDAQ:CTAS) from a hold rating to a buy rating in a research report released on Tuesday, December 19th. Zacks Investment Research currently has $179.00 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. In addition, the successful integration of G&K Services is likely to expand Cintas’ customer profile and augment its revenues. The combined company is likely to cater to over one billion business customers with an extended product portfolio and additional processing capacity. Moreover, Cintas has a strong balance sheet with adequate liquidity to meet its working capital requirements. 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.”
A number of other analysts have also commented on CTAS. Robert W. Baird set a $152.00 target price on Cintas and gave the stock a buy rating in a report on Thursday, August 24th. BidaskClub raised Cintas from a sell rating to a hold rating in a report on Wednesday, August 23rd. Stifel Nicolaus reissued a hold rating and issued a $138.00 target price (up previously from $136.00) on shares of Cintas in a report on Wednesday, September 27th. Royal Bank of Canada reaffirmed a hold rating and issued a $145.00 price objective on shares of Cintas in a report on Monday, November 20th. Finally, Oppenheimer reaffirmed a hold rating on shares of Cintas in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $153.73.
Cintas (CTAS) traded up $1.72 on Tuesday, hitting $162.05. The stock had a trading volume of 529,892 shares, compared to its average volume of 524,737. The stock has a market cap of $17,230.00, a PE ratio of 36.25, a PEG ratio of 2.48 and a beta of 0.87. The company has a current ratio of 1.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.99. Cintas has a 52 week low of $112.96 and a 52 week high of $163.45.
Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 21st. The business services provider reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. Cintas had a return on equity of 23.23% and a net margin of 9.23%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. sell-side analysts predict that Cintas will post 5.44 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Hutchens Investment Management Inc purchased a new position in shares of Cintas in the fourth quarter valued at about $311,000. Parametric Portfolio Associates LLC lifted its position in shares of Cintas by 6.0% in the third quarter. Parametric Portfolio Associates LLC now owns 190,175 shares of the business services provider’s stock worth $27,438,000 after buying an additional 10,727 shares in the last quarter. Visionary Asset Management Inc. purchased a new stake in shares of Cintas in the third quarter worth about $239,000. GSA Capital Partners LLP purchased a new stake in shares of Cintas in the third quarter worth about $712,000. Finally, Smith Shellnut Wilson LLC ADV purchased a new stake in shares of Cintas in the third quarter worth about $386,000. Institutional investors and hedge funds own 66.65% of the company’s stock.
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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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