Cintas Corp. Now Covered by Analysts at Credit Suisse (CTAS)
Analysts at Credit Suisse initiated coverage on shares of Cintas Corp. (NASDAQ:CTAS) in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $56.00 price target on the stock. Credit Suisse’s price target would suggest a potential downside of 5.56% from the company’s current price.
The analysts wrote, “Our FY2014 EPS goes to $2.77 (from $2.74) based on updated guidance. Our FY2015 EPS goes to $3.07 (from $3.02) based on minor adjustments to our model. We are raising our target price to $60 based on our higher forecasts. Hold on to what you own if you believe employment trends within uniform are picking up and that penetration rates will improve to drive higher incremental margins. We also believe management is being prudent in capital allocation going forward.”
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Cintas Corp. in a research note to investors on Thursday, December 5th. They now have a $57.00 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $54.44.
Cintas Corp. (NASDAQ:CTAS) opened at 59.30 on Monday. Cintas Corp. has a 52-week low of $40.13 and a 52-week high of $59.41. The stock has a 50-day moving average of $54.74 and a 200-day moving average of $50.26. The company has a market cap of $7.105 billion and a price-to-earnings ratio of 21.63.
Cintas Corp. (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Cintas Corp. will post $2.77 EPS for the current fiscal year.
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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