Movement Alert|Cintas Rises 3.59% in After-Hours Trading, Investment Bank Bullish on Q4 Earnings Beat and Acquisition Outlook

Market Focus06-04

On June 4, Cintas rose 3.59% in after-hours trading, trading at $180.0/share, with trading volume of approximately $11.72 million.

On the news front, RBC Capital Markets issued a research note indicating that despite headwinds from rising energy costs, Cintas's fiscal fourth-quarter results are expected to exceed market expectations. Additionally, RBC believes the company's acquisition of UniFirst will most likely close without requiring any store divestitures, removing a key uncertainty around the deal. RBC assigned Cintas a Sector Perform rating with a target price of $206, implying meaningful upside from current levels.

Cintas Corporation provides corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. Its operations span uniform rental and facility services, first aid and safety services, and fire protection products, serving clients ranging from small service companies to major corporations through its distribution network.

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