Barrington Research Upgrades Cintas (CTAS) to Outperform; Solid Q4 Results

Barrington Research upgraded Cintas (NASDAQ: CTAS) to Outperform.

Barrington analyst says, "Last night, after the market’s close, Cintas Corp. reported the financial results of its fourth quarter ended May 31, in which both revenue and EPS exceeded expectations. The company provided initial fiscal 2012 guidance, which also came in ahead of consensus estimates. Organic growth continued to improve in the quarter, driven by continued gains in sales force productivity—especially with regard to new account sales. Management noted that customer employment levels remained relatively stable. Results and guidance were aided by significant share repurchase activity—although excluding benefits from share repurchases, Q4/11 results and fiscal 2012 were still ahead of expectations. Due to the strong results and guidance, we are upgrading our investment rating."

For more ratings news on Cintas click here and for the rating history of Cintas click here.

Shares of Cintas closed at $30.86 yesterday.

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