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Cintas (CTAS) Boosts Product Portfolio With Paris Uniform Buyout
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Cintas Corporation (CTAS - Free Report) recently acquired Paris Uniform Services, a family-owned supplier of uniform and facility service solutions. The financial terms of the acquisition were kept under wraps.
Based in PA, Paris Uniform Services was established in 1978. The company is engaged in providing uniforms, work apparel, facility services and restroom products among others. Paris Uniform also operates in NY, MD and WV.
Acquisition Rationale
The latest buyout is in sync with Cintas’ policy of acquiring businesses to strengthen its business and product portfolio. The inclusion of Paris Uniform’s solid portfolio of apparel and other products, supported by its strong customer service capabilities, will enable Cintas to expand its offerings. The transaction will enhance the company’s service delivery capacity.
Other Notable Buyout
In February 2024, Cintas acquired Henderson, KY-based SITEX. The buyout is expected to strengthen the leading market position of Cintas in the central Midwest region of the United States.
Zacks Rank and Price Performance
Cintas currently carries a Zacks Rank #3 (Hold).
Strong segmental performances are driving Cintas’ top line. Increasing demand from the health care, education and government verticals is driving revenues at the Uniform Rental and Facility Services segment, while high customer retention levels are boosting the First Aid and Safety Services segment’s performance. The company is scheduled to release third-quarter fiscal 2024 (ended February 2024) results on Mar 27, before market open.
In the past year, the stock has gained 44.2% compared with the industry’s 40.2% increase.
Image Source: Zacks Investment Research
However, the company has been dealing with the adverse impacts of high costs for a while. Also, the rising tax rate is concerning.
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
ATMU’s earnings estimates have increased 2.9% for 2024 in the past 60 days. Shares of Atmus Filtration have risen 20.7% in the past year.
Tetra Tech, Inc. (TTEK - Free Report) currently carries a Zacks Rank #2 (Buy). It delivered a trailing four-quarter average earnings surprise of 14.4%.
In the past 60 days, the Zacks Consensus Estimate for TTEK’s fiscal 2024 earnings has increased 2.9%. The stock has soared 30.9% in the past year.
Applied Industrial Technologies, Inc. (AIT - Free Report) presently has a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 10.4%.
The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.7% in the past 60 days. The stock has gained 35.1% in the past year.
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Cintas (CTAS) Boosts Product Portfolio With Paris Uniform Buyout
Cintas Corporation (CTAS - Free Report) recently acquired Paris Uniform Services, a family-owned supplier of uniform and facility service solutions. The financial terms of the acquisition were kept under wraps.
Based in PA, Paris Uniform Services was established in 1978. The company is engaged in providing uniforms, work apparel, facility services and restroom products among others. Paris Uniform also operates in NY, MD and WV.
Acquisition Rationale
The latest buyout is in sync with Cintas’ policy of acquiring businesses to strengthen its business and product portfolio. The inclusion of Paris Uniform’s solid portfolio of apparel and other products, supported by its strong customer service capabilities, will enable Cintas to expand its offerings. The transaction will enhance the company’s service delivery capacity.
Other Notable Buyout
In February 2024, Cintas acquired Henderson, KY-based SITEX. The buyout is expected to strengthen the leading market position of Cintas in the central Midwest region of the United States.
Zacks Rank and Price Performance
Cintas currently carries a Zacks Rank #3 (Hold).
Strong segmental performances are driving Cintas’ top line. Increasing demand from the health care, education and government verticals is driving revenues at the Uniform Rental and Facility Services segment, while high customer retention levels are boosting the First Aid and Safety Services segment’s performance. The company is scheduled to release third-quarter fiscal 2024 (ended February 2024) results on Mar 27, before market open.
In the past year, the stock has gained 44.2% compared with the industry’s 40.2% increase.
Image Source: Zacks Investment Research
However, the company has been dealing with the adverse impacts of high costs for a while. Also, the rising tax rate is concerning.
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Atmus Filtration Technologies Inc. (ATMU - Free Report) presently sports a Zacks Rank #1 (Strong Buy) and a trailing four-quarter earnings surprise of 20.3%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
ATMU’s earnings estimates have increased 2.9% for 2024 in the past 60 days. Shares of Atmus Filtration have risen 20.7% in the past year.
Tetra Tech, Inc. (TTEK - Free Report) currently carries a Zacks Rank #2 (Buy). It delivered a trailing four-quarter average earnings surprise of 14.4%.
In the past 60 days, the Zacks Consensus Estimate for TTEK’s fiscal 2024 earnings has increased 2.9%. The stock has soared 30.9% in the past year.
Applied Industrial Technologies, Inc. (AIT - Free Report) presently has a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 10.4%.
The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.7% in the past 60 days. The stock has gained 35.1% in the past year.