Advertisement
New Zealand markets closed

  • NZX 50

    11,796.21
    -39.83 (-0.34%)
     

  • NZD/USD

    0.5892
    -0.0013 (-0.22%)
     

  • NZD/EUR

    0.5523
    -0.0022 (-0.39%)
     

  • ALL ORDS

    7,817.40
    -81.50 (-1.03%)
     

  • ASX 200

    7,567.30
    -74.80 (-0.98%)
     

  • OIL

    83.24
    +0.51 (+0.62%)
     

  • GOLD

    2,406.70
    +8.70 (+0.36%)
     

  • NASDAQ

    17,037.65
    -356.67 (-2.05%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • Dow Jones

    37,986.40
    +211.02 (+0.56%)
     

  • DAX

    17,737.36
    -100.04 (-0.56%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • NZD/JPY

    91.0710
    -0.1830 (-0.20%)
     

Cintas to Build New Laundry Operation Plant in Delta Township

Zacks Equity Research
Updated

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).

ADVERTISEMENT

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.

The Hottest Tech Mega-Trend of All                

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>               


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Atkore International Group Inc. (ATKR) : Free Stock Analysis Report
 
ABB Ltd (ABB) : Free Stock Analysis Report
 
Cintas Corporation (CTAS) : Free Stock Analysis Report
 
Advanced Emissions Solutions, Inc. (ADES) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research