Cintas' Q1 revenue, adj EPS beat estimates, outlook raised

The current average analyst rating on the shares is buy, with 10 strong buy or buy, 10 hold and 1 sell or strong sell.

The average consensus recommendation for the business support services peer group is buy.

Wall Street's median 12-month price target for Cintas Corporation is $219.50, about 10.4% above its September 22 closing price of $198.80.

The stock recently traded at 35 times the next 12-month earnings, versus a P/E of 32 three months ago.

The company said 8.9% organic revenue growth in Q1 was a key driver of results.

Cintas also attributed record gross and operating margins to ongoing investments in technology, capacity and talent.

Both the uniform rental and facility services segment and the segment posted revenue growth, supporting overall results.