Cintas Co. (NASDAQ:CTAS)’s stock price was up 0.6% during 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.”
CTAS has been the subject of several other reports. Royal Bank of Canada reiterated a “hold” rating and issued a $136.00 price target on shares of Continental in a research note on Wednesday. Barclays set a €81.00 ($94.19) price target on shares of Fresenius Medical Care AG & Co. KGaA and gave the stock a “buy” rating in a research note on Thursday. BidaskClub lowered shares of Xperi from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 19th. Morgan Stanley increased 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. Finally, William Blair restated an “outperform” rating on shares of American Software in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $217.25.
Several hedge funds have recently made changes to their positions in CTAS. Capital Financial Planning LLC bought a new stake in shares of Cintas in the fourth quarter worth approximately $29,000. Financial Gravity Wealth Inc. purchased a new position in shares of Cintas in the first quarter worth approximately $36,000. CWM LLC boosted its holdings in shares of Cintas by 52.4% in the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after buying an additional 66 shares during the last quarter. Washington Trust Bank purchased a new position in shares of Cintas in the first quarter worth approximately $45,000. Finally, Resources Investment Advisors Inc. purchased a new position in shares of Cintas in the first quarter worth approximately $81,000. Hedge funds and other institutional investors own 67.05% of the company’s stock.
The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $25.04 billion, a P/E ratio of 34.46, a PEG ratio of 2.37 and a beta of 0.99. The company has a fifty day moving average of $234.78.
Cintas (NASDAQ:CTAS) last posted 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. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.78 billion. Cintas had a net margin of 12.80% and a return on equity of 26.39%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 earnings per share. As a group, equities analysts expect that Cintas Co. will post 8.3 earnings per share for the current fiscal year.
Cintas Company Profile (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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