Oppenheimer Mainatins Cintas' Perform Rating (CTAS)

Oppenheimer has reiterated a Perform Rating on Cintas Corporation CTAS. According to Oppenheimer's report, "F3Q11 EPS of $0.41 exceeded our estimate/consensus of $0.35/$0.36. F3Q11 revenue of $937M topped our estimate/consensus of $909M/$908M as organic growth improved for the sixth consecutive quarter (fourth positive) y/y to 5.5%. Primary drivers included added penetration of existing customers, new customers, and fewer 'stops' at existing customers. Favorably, operating margin improved to 11.6% vs. 10.9% in F2Q11 and 9.7% in F3Q10 as leverage is becoming apparent." CTAS closed at $28.14 yesterday.