Barrington Maintains Outperform on Cintas

Barrington is out with its report today on Cintas

, maintaining Outperform. In its report, Barrington writes, "We remain encouraged by the solid organic growth and margin expansion despite cost headwinds from cotton and energy and the uncertain economic environment. Our price target of $41 would represent a NTM P/E multiple of 17.5x one year from now, near the high end of the multiple range in which the stock has traded during the last three years due to our expectation of continued solid earnings growth after several quarters of declines. The state of the economy remains a risk. Our rating is OUTPERFORM." At the time of posting, shares of CTAS were trading at $29.34, up 1.49% from Monday's close.