Zacks Investment Research upgraded shares of Cintas (NASDAQ:CTAS) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. They currently have $273.00 price target on the business services provider’s stock.
According to Zacks, “In fourth-quarter fiscal 2019, Cintas' earnings and revenues surpassed the Zacks Consensus Estimate by 6.7% and 0.7%, respectively. Improved product offerings, solid customer base and effective implementation of enterprise resource planning system will benefit Cintas in the quarters ahead. Further, the company will gain from the G&K Services buyout. Also, a strong cash position and focus on rewarding shareholders handsomely through dividends and share repurchases will work in its favor. However, if unchecked, higher costs and operating expenses will prove detrimental to Cintas’ margins and profitability. The company is exposed to market risks as it procures raw materials from a wide variety of domestic and international suppliers. Further, rise in debt levels can increase its financial obligations.”
Other research analysts have also issued reports about the stock. Morgan Stanley boosted their price target on shares of WPP from GBX 1,025 ($13.39) to GBX 1,060 ($13.85) and gave the stock an equal weight rating in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated a hold rating and set a $136.00 price target on shares of Continental in a research note on Wednesday, July 17th. BidaskClub lowered shares of Xperi from a sell rating to a strong sell rating in a research note on Wednesday, June 19th. William Blair reissued an outperform rating on shares of American Software in a report on Thursday, June 20th. Finally, Credit Suisse Group set a GBX 3,090 ($40.38) price objective on shares of Royal Dutch Shell and gave the stock a buy rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $221.39.
NASDAQ CTAS opened at $257.85 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $26.96 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 3.00 and a beta of 0.99. Cintas has a one year low of $155.98 and a one year high of $263.82. The company has a fifty day simple moving average of $236.31.
Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Tuesday, July 16th. The business services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.13. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. Cintas had a net margin of 12.80% and a return on equity of 26.77%. Cintas’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 earnings per share. Research analysts anticipate that Cintas will post 8.45 EPS for the current year.
In other Cintas news, Director Joseph Scaminace sold 6,255 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $222.20, for a total value of $1,389,861.00. Following the sale, the director now owns 7,973 shares of the company’s stock, valued at $1,771,600.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lenox Wealth Management Inc. lifted its holdings in shares of Cintas by 20.5% in the second quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 40 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in shares of Cintas by 4.1% in the first quarter. Flagship Harbor Advisors LLC now owns 1,276 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 50 shares in the last quarter. D.B. Root & Company LLC lifted its holdings in shares of Cintas by 2.7% in the second quarter. D.B. Root & Company LLC now owns 1,916 shares of the business services provider’s stock valued at $454,000 after purchasing an additional 50 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Cintas by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 8,990 shares of the business services provider’s stock valued at $2,133,000 after purchasing an additional 53 shares in the last quarter. Finally, World Asset Management Inc lifted its holdings in shares of Cintas by 0.8% in the first quarter. World Asset Management Inc now owns 6,740 shares of the business services provider’s stock valued at $1,362,000 after purchasing an additional 56 shares in the last quarter. 67.07% of the stock is currently owned by institutional investors.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, and carpet and tile cleaning services, as well as sells uniforms directly.
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