Cintas Co. (NASDAQ:CTAS)’s stock price rose 0.6% during mid-day trading on Thursday after Zacks Investment Research upgraded the stock from a hold rating to a buy rating. Zacks Investment Research now has a $273.00 price target on the stock. Cintas traded as high as $262.00 and last traded at $261.81, approximately 56,358 shares changed hands during mid-day trading. A decline of 89% from the average daily volume of 502,787 shares. The stock had previously closed at $260.37.
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.”
A number of other analysts also recently issued reports on the company. Credit Suisse Group set a GBX 3,090 ($40.38) target price on Royal Dutch Shell and gave the company a “buy” rating in a research report on Wednesday. BidaskClub downgraded Xperi from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 19th. William Blair reaffirmed an “outperform” rating on shares of American Software in a research report on Thursday, June 20th. JPMorgan Chase & Co. set a $45.00 target price on Ciena and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays set a €81.00 ($94.19) target price on Fresenius Medical Care AG & Co. KGaA and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Cintas currently has a consensus rating of “Buy” and a consensus price target of $217.25.
In other Cintas news, Director Joseph Scaminace sold 6,255 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the transaction, the director now owns 7,973 shares of the company’s stock, valued at $1,771,600.60. The sale was disclosed in a document filed with the SEC, which is available through this link. 19.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lenox Wealth Management Inc. increased its position in Cintas by 20.5% during the second quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock worth $55,000 after buying an additional 40 shares during the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Cintas by 4.1% during the first quarter. Flagship Harbor Advisors LLC now owns 1,276 shares of the business services provider’s stock worth $257,000 after acquiring an additional 50 shares during the period. D.B. Root & Company LLC boosted its holdings in shares of Cintas by 2.7% during the second quarter. D.B. Root & Company LLC now owns 1,916 shares of the business services provider’s stock worth $454,000 after acquiring an additional 50 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Cintas by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 8,990 shares of the business services provider’s stock worth $2,133,000 after acquiring an additional 53 shares during the period. Finally, World Asset Management Inc boosted its holdings in shares of Cintas by 0.8% during the first quarter. World Asset Management Inc now owns 6,740 shares of the business services provider’s stock worth $1,362,000 after acquiring an additional 56 shares during the period. 67.05% of the stock is currently owned by hedge funds and other institutional investors.
The stock has a market cap of $27.26 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.53 and a beta of 0.99. The company has a fifty day moving average of $236.31. The company has a current ratio of 1.98, a quick ratio of 1.89 and a debt-to-equity ratio of 0.85.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Tuesday, July 16th. The business services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.13. Cintas had a return on equity of 26.77% and a net margin of 12.80%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that Cintas Co. will post 8.45 earnings per share for the current year.
About Cintas (NASDAQ:CTAS)
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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