Why Cintas Is Plunging Today
Shares of professional uniform company (NASDAQ: CTAS) plunged 9.3% on Thursday as of 12 p.m. EDT.
Cintas has been a long-term winner in the market and, prior to the past week, had been up some 50% on the year. However, the past week's inflation scare and last night's "disappointing" earnings report sent shares tumbling today.
At first glance, one might be confused as to why investors had such a negative reaction to these numbers. Revenue was up 7.8% to $2.56 billion, in line with expectations, while earnings per share (EPS) expanded 21.1% to $1.09, ahead of expectations.
Source Fool.com
Cintas Corp. Stock
€160.90
0.750%
Our community is currently high on Cintas Corp. with 12 Buy predictions and 4 Sell predictions.
With a target price of 208 € there is a positive potential of 29.27% for Cintas Corp. compared to the current price of 160.9 €.
