Cintas Corporation (CTAS) was Initiated by Macquarie to “Neutral” and the brokerage firm has set the Price Target at $130. Macquarie advised their investors in a research report released on Aug 26, 2016.
Many Wall Street Analysts have commented on Cintas Corporation. Company shares were Upgraded by Robert W. Baird on Aug 17, 2016 to ” Outperform”, Firm has raised the Price Target to $ 140 from a previous price target of $111 .Company shares were Upgraded by Barclays on Aug 17, 2016 to ” Overweight”, Firm has raised the Price Target to $ 130 from a previous price target of $110 .
On the company’s financial health, Cintas Corporation reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.01. The company had revenue of $1271.40 million for the quarter, compared to analysts expectations of $1245.34 million. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.
Cintas Corporation opened for trading at $114.06 and hit $114.67 on the upside on Tuesday, eventually ending the session at $114.53, with a gain of 0.44% or 0.5 points. The heightened volatility saw the trading volume jump to 3,98,437 shares. Company has a market cap of $11,935 M.
In a different news, on Jul 27, 2016, Gerald S Adolph (director) sold 2,000 shares at $108.12 per share price. According to the SEC, on May 4, 2016, Paul F. Adler (Treasurer) sold 160 shares at $89.58 per share price. On Apr 14, 2016, James Phillip Holloman (President and COO) sold 19,376 shares at $90.49 per share price, according to the Form-4 filing with the securities and exchange commission.
Cintas Corporation provides products and services to businesses of all types. The Company 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 and first aid safety and fire protection products and services. The Company has three segments: Rental Uniforms and Ancillary Products Uniform Direct Sales and First Aid Safety and Fire Protection Services. The Company’s Rental Uniforms and Ancillary Products segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing mats mops and shop towels and other ancillary items. The Company’s Uniform Direct Sales segment consists of the direct sale of uniforms and related items. The Company’s First Aid Safety and Fire Protection Services segment consists of first aid safety and fire protection products and services.