Shares of uniform specialist Cintas Corporation (NASDAQ: CTAS) rallied 28% in April according to data from S&P Global Market Intelligence. That was more than twice the 13% or so gain seen in the S&P 500 Index during the month. However, when you pull back a little, Cintas was lower by roughly 18% through the first four months of the year versus a drop of just under 10% for the S&P 500. There's clearly more to understand.
Demand for Cintas' products and services is economically sensitive. When businesses aren't doing well, they pull back on staffing and spending. That, in turn, reduces demand for Cintas. However, that trend has yet to fully show up in the company's numbers.
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