Cintas Corp. (NASDAQ:CTAS) issued its quarterly earnings data on Tuesday. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.08 by $0.18. Cintas Corp. had a return on equity of 24.16% and a net margin of 14.14%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $0.93 earnings per share. Cintas Corp.’s quarterly revenue was up 7.6% compared to the same quarter last year. Cintas Corp. updated its FY17 guidance to $4.55-$4.63 EPS.
Cintas Corp. (NASDAQ:CTAS) traded up 0.21% during trading on Tuesday, reaching $113.43. The company’s stock had a trading volume of 724,139 shares. The company has a 50 day moving average price of $113.79 and a 200-day moving average price of $99.30. Cintas Corp. has a 52 week low of $80.00 and a 52 week high of $119.94. The company has a market capitalization of $11.82 billion, a PE ratio of 18.17 and a beta of 0.85.
In other Cintas Corp. news, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $108.12, for a total value of $216,240.00. Following the transaction, the director now directly owns 11,590 shares of the company’s stock, valued at $1,253,110.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 19.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in Cintas Corp. by 67.3% in the second quarter. BlackRock Fund Advisors now owns 2,298,352 shares of the company’s stock valued at $225,537,000 after buying an additional 924,422 shares during the period. BlackRock Group LTD raised its position in Cintas Corp. 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 during the period. BlackRock Japan Co. Ltd raised its position in Cintas Corp. by 9.5% in the second quarter. BlackRock Japan Co. Ltd now owns 196,766 shares of the company’s stock valued at $19,309,000 after buying an additional 16,991 shares during the period. Tredje AP fonden bought a new position in Cintas Corp. during the second quarter valued at approximately $932,000. Finally, Commonwealth Bank of Australia raised its position in Cintas Corp. by 4.3% in the second quarter. Commonwealth Bank of Australia now owns 9,390 shares of the company’s stock valued at $922,000 after buying an additional 391 shares during the period. 65.78% of the stock is currently owned by institutional investors.
CTAS has been the topic of a number of research analyst reports. Zacks Investment Research lowered Cintas Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 15th. Nomura reaffirmed a “buy” rating and issued a $102.00 price target on shares of Cintas Corp. in a research note on Friday, July 15th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $106.00 price target (up from $95.00) on shares of Cintas Corp. in a research note on Wednesday, July 20th. Barclays PLC lowered their price target on Cintas Corp. from $105.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price target (up from $75.00) on shares of Cintas Corp. in a research note on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $115.40.
About Cintas Corp.
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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