Zacks Investment Research downgraded shares of Cintas Corporation (NASDAQ:CTAS) from a buy rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “Cintas’ shares have almost performed in line with the industry in the last three months. The acquisition of rival G&K Services is likely to fuel its growth momentum with an extended product portfolio and additional processing capacity. Cintas 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 also increased its guidance for fiscal 2017 on favorable growth dynamics. However, Cintas has missed second-quarter fiscal 2017 earnings by $0.01. Persistent challenging macroeconomic environment has mostly driven customers to perform certain in-house services themselves, resulting in some loss of business for Cintas. A sustained increase in raw material costs may also weigh on the margins. The company’s significant international operations further expose it to the risk of fluctuation in foreign exchange rates.”
A number of other analysts have also issued reports on the company. RBC Capital Markets restated a sector perform rating on shares of Cintas Corporation in a report on Tuesday, December 27th. Stifel Nicolaus increased their price objective on Cintas Corporation from $118.00 to $123.00 and gave the stock a hold rating in a report on Tuesday, December 20th. KeyCorp increased their price objective on Cintas Corporation from $130.00 to $135.00 and gave the stock an overweight rating in a report on Monday, October 3rd. Barclays PLC reiterated an overweight rating and set a $130.00 price objective on shares of Cintas Corporation in a report on Friday, September 30th. Finally, Robert W. Baird reiterated an outperform rating and set a $140.00 price objective on shares of Cintas Corporation in a report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $117.91.
Shares of Cintas Corporation (NASDAQ:CTAS) opened at 113.97 on Friday. The stock has a market cap of $11.97 billion, a P/E ratio of 23.76 and a beta of 0.89. The stock has a 50 day moving average price of $117.40 and a 200 day moving average price of $111.36. Cintas Corporation has a 12 month low of $80.00 and a 12 month high of $122.21.
Cintas Corporation (NASDAQ:CTAS) last released its earnings results on Thursday, December 22nd. The company reported $1.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.02. The business earned $1.30 billion during the quarter. Cintas Corporation had a net margin of 10.37% and a return on equity of 24.80%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. Equities analysts anticipate that Cintas Corporation will post $4.61 EPS for the current fiscal year.
Several large investors have recently modified their holdings of CTAS. BlackRock Fund Advisors increased its stake in shares of Cintas Corporation by 1.5% in the third quarter. BlackRock Fund Advisors now owns 2,332,399 shares of the company’s stock valued at $262,628,000 after buying an additional 34,047 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Cintas Corporation by 0.6% in the second quarter. AQR Capital Management LLC now owns 1,547,583 shares of the company’s stock valued at $151,865,000 after buying an additional 8,476 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Cintas Corporation by 4.2% in the second quarter. BlackRock Group LTD now owns 963,543 shares of the company’s stock valued at $94,552,000 after buying an additional 38,406 shares in the last quarter. BlackRock Inc. increased its stake in shares of Cintas Corporation by 20.4% in the second quarter. BlackRock Inc. now owns 609,929 shares of the company’s stock valued at $59,852,000 after buying an additional 103,146 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Cintas Corporation by 12.1% in the second quarter. Legal & General Group Plc now owns 472,225 shares of the company’s stock valued at $46,300,000 after buying an additional 50,961 shares in the last quarter. 65.15% of the stock is currently owned by 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.
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