Cintas Corporation (NASDAQ:CTAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Cintas reported strong fourth-quarter fiscal 2017 results on the back of healthy top-line growth. The company further aims to continually achieve revenue build-up by increasing penetration levels at existing customers and broadening the customer base. The synergies from the combined operations post G&K Services’ acquisition are further expected to yield $130 million to $140 million in cost savings from the fourth year of its operation and the transaction is anticipated to be accretive to Cintas’ earnings. Cintas has also outperformed the industry year to date. However, volatility in raw material prices and third-party supply constraints remain potential headwinds for the company. Moreover, persistent challenging macroeconomic environment has mostly driven customers to perform certain in-house services themselves instead of outsourcing them to Cintas, which have resulted in some loss of businesses.”

Several other equities research analysts also recently weighed in on CTAS. BidaskClub downgraded shares of Cintas Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada reissued a “hold” rating and issued a $130.00 target price on shares of Cintas Corporation in a research report on Friday, July 21st. Stifel Nicolaus boosted their target price on shares of Cintas Corporation from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Morgan Stanley reissued an “underweight” rating and issued a $117.00 target price (up previously from $107.00) on shares of Cintas Corporation in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG set a $130.00 target price on shares of Cintas Corporation and gave the stock a “hold” rating in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $133.42.

Shares of Cintas Corporation (CTAS) traded down 0.41% during trading on Monday, hitting $134.45. The company’s stock had a trading volume of 443,268 shares. The company has a market cap of $14.18 billion, a PE ratio of 30.65 and a beta of 0.84. The firm’s 50 day moving average price is $129.35 and its 200-day moving average price is $123.13. Cintas Corporation has a 52 week low of $102.07 and a 52 week high of $139.74.

Cintas Corporation (NASDAQ:CTAS) last released its earnings results on Thursday, July 20th. The business services provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.30. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. Cintas Corporation had a return on equity of 23.38% and a net margin of 8.90%. Cintas Corporation’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. On average, analysts predict that Cintas Corporation will post $5.23 earnings per share for the current year.

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Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in shares of Cintas Corporation by 19.4% in the first quarter. Parallel Advisors LLC now owns 862 shares of the business services provider’s stock worth $104,000 after buying an additional 140 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of Cintas Corporation by 11.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,023 shares of the business services provider’s stock worth $125,000 after buying an additional 106 shares in the last quarter. First Personal Financial Services increased its stake in shares of Cintas Corporation by 0.8% in the second quarter. First Personal Financial Services now owns 1,147 shares of the business services provider’s stock worth $145,000 after buying an additional 9 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Cintas Corporation by 4.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 1,200 shares of the business services provider’s stock worth $151,000 after buying an additional 50 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Cintas Corporation by 8.1% in the first quarter. Van ECK Associates Corp now owns 1,214 shares of the business services provider’s stock worth $154,000 after buying an additional 91 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

About Cintas Corporation

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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Analyst Recommendations for Cintas Corporation (NASDAQ:CTAS)

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