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Cintas Corporation CTAS has announced that it will conduct the groundbreaking ceremony for marking the construction site of its new manufacturing facility in Delta Township. The ceremony will be held on Sep 24 at 1:00 p.m., at the southwest corner of Mt. Hope Highway and S. Canal Road.
Cintas will be able to service the variety of central Michigan customers more proficiently with the construction of this 55,000-square-foot laundry operation facility. The company currently operates in Michigan through six branches and five production facilities.
Additionally, Cintas stated that its new central Michigan facility will bring in roughly 60 jobs in sales, technical, skilled and office operations. Hiring activities of the company’s latest facility will commence in the fall of 2019.
Over the past three months, Cintas' shares have rallied 14.0%, outperforming 11.1% growth recorded by the industry.
Its earnings per share are predicted to be up 12% in the next three to five years. However, Cintas believes transaction and integration expenses related to the G&K Services acquisition (March 2017), implementation cost associated with new enterprise resource-planning system, typical conversion costs and rental material expenses might dampen its margins in the upcoming quarters. The company currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked stocks in the Zacks Industrial Products sector are listed below:
Atkore International Group Inc. ATKR sports a Zacks Rank of 1 (Strong Buy). The company pulled off an average positive earnings surprise of 24.46% over the trailing four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
ABB Ltd ABB carries a Zacks Rank #2 (Buy). The company generated an average positive earnings surprise of 12.03% over the preceding four quarters.
Advanced Emissions Solutions, Inc. ADES also carries a Zacks Rank of 2. The company delivered an average positive earnings surprise of 16.40% during the same time frame.
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