Zacks Investment Research Upgrades G&K Services Inc (GK) to Hold
G&K Services Inc (NASDAQ:GK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “G&K Services, Inc. is a market leader in branded identity apparel programs and facility services in the United States, and is the largest such provider in Canada. G&K operates over processing facilities and branch offices. “
G&K Services (NASDAQ:GK) remained flat at $97.50 during midday trading on Monday. 418,583 shares of the company traded hands. G&K Services has a 52-week low of $69.17 and a 52-week high of $98.21. The stock has a market cap of $1.92 billion, a P/E ratio of 34.23 and a beta of 0.99. The firm has a 50 day moving average price of $95.02 and a 200 day moving average price of $95.77.
G&K Services (NASDAQ:GK) last issued its quarterly earnings data on Tuesday, January 31st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by $0.09. G&K Services had a net margin of 5.77% and a return on equity of 18.44%. The company had revenue of $244.10 million for the quarter, compared to analysts’ expectations of $249.31 million. During the same quarter last year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities research analysts anticipate that G&K Services will post $3.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Monday, February 27th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, February 23rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.60%. G&K Services’s dividend payout ratio (DPR) is presently 54.74%.
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Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of G&K Services by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 623,498 shares of the company’s stock worth $59,538,000 after buying an additional 18,794 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of G&K Services by 2.0% in the third quarter. UBS Asset Management Americas Inc. now owns 13,613 shares of the company’s stock worth $1,300,000 after buying an additional 267 shares during the period. IndexIQ Advisors LLC bought a new stake in shares of G&K Services during the third quarter worth about $1,181,000. Alps Advisors Inc. bought a new stake in shares of G&K Services during the third quarter worth about $409,000. Finally, Aperio Group LLC increased its stake in shares of G&K Services by 2.0% in the third quarter. Aperio Group LLC now owns 4,669 shares of the company’s stock worth $446,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 88.61% of the company’s stock.
G&K Services Company Profile
G&K Services, Inc is a service-focused provider of branded uniform and facility services programs. The Company provides a range of workwear and protective safety apparel through rental and direct purchase programs. The Company also supplies various facility products and services, including floor mats, towels, mops, restroom hygiene products, and first aid supplies.
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