On July 1, Cintas rose 3.15% in regular trading, trading at approximately $176.00/share, with turnover of $42.52 million.

On the news front, the UniFirst acquisition continues to advance after UniFirst shareholders voted in favor of the $5.5 billion cash-and-stock takeover in June, with the deal expected to close in the second half of the year. Under the agreement, UniFirst shareholders will receive $155 in cash and 0.7720 shares of Cintas stock per share. UBS previously estimated the acquisition would be approximately 10% accretive to Cintas EPS by year four, with potential to more than double UniFirst EBITDA over the integration period.

While BofA Securities and Baird recently lowered their price targets to $200, both maintained positive ratings. The current analyst consensus target of $211.20 implies approximately 20% upside from current levels. RBC noted that fiscal Q4 results are expected to beat estimates, with organic growth of around 8% and incremental margins in the low-to-mid 30% range helping offset energy cost pressures.

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