Cintas Corp. (NASDAQ:CTAS)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Thursday, American Banking News reports. They currently have a $57.00 price objective on the stock. Zacks‘ target price points to a potential upside of 4.90% from the company’s current price.
Zacks‘ analyst wrote, “Cintas reported modest fiscal 2014 first quarter results with earnings missing the Zacks Consensus Estimate by $0.01. Cintas recorded an organic growth of 7.1% and a 6.6% year-over-year increase in revenues to $1.12 billion, with a diligent execution of its operational plans. The company expects to extend its global footprint and strengthen its position in existing markets through continuous organic growth across the industry verticals. However, an increase in raw material costs and challenging macroeconomic conditions could weigh on the margins moving forward. Moreover, intense competitive pressure and foreign currency risks are likely to peg back its profitability to some extent. Nevertheless, we maintain our Neutral recommendation on the stock. “
Cintas Corp. (NASDAQ:CTAS) traded down 0.44% on Thursday, hitting $54.10. The stock had a trading volume of 187,724 shares. Cintas Corp. has a 1-year low of $40.13 and a 1-year high of $57.99. The stock’s 50-day moving average is $54.02 and its 200-day moving average is $49.46. The company has a market cap of $6.486 billion and a price-to-earnings ratio of 21.39.
Cintas Corp. (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, September 19th. The company reported $0.63 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.63. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted $0.60 earnings per share. Cintas Corp.’s revenue was up 6.6% compared to the same quarter last year. Analysts expect that Cintas Corp. will post $2.75 EPS for the current fiscal year.
The company also recently declared a annual dividend, which is scheduled for Wednesday, December 11th. Investors of record on Friday, November 8th will be given a dividend of $0.64 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 6th.
CTAS has been the subject of a number of other recent research reports. Analysts at Piper Jaffray initiated coverage on shares of Cintas Corp. in a research note to investors on Monday, November 18th. They set a “neutral” rating and a $56.00 price target on the stock. Separately, analysts at Ned Davis Research downgraded shares of Cintas Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, September 30th. Finally, analysts at RBC Capital reiterated a “buy” rating on shares of Cintas Corp. in a research note to investors on Friday, September 20th. They now have a $51.00 price target on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $53.00.
Cintas Corporation (NASDAQ:CTAS) provides specialized products and services to businesses of all types throughout the North America, Latin America, Europe and Asia.
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