G & K Services Trading Up 4.7% After Better-Than-Expected Earnings (GK)
Shares of G & K Services (NYSE:GK) were up 4.7% on Thursday following a stronger than expected earnings report, AnalystRatings.Net reports. The company traded as high as $52.29 and last traded at $51.98, with a volume of 153,824 shares changing hands. The stock had previously closed at $49.63.
The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.73 by $0.03. The company had revenue of $219.40 million for the quarter, compared to the consensus estimate of $227.28 million.
A number of analysts have recently weighed in on GK shares. Analysts at KeyCorp reiterated a “buy” rating on shares of G & K Services in a research note on Tuesday, June 24th. They now have a $63.00 price target on the stock, down previously from $68.00. Analysts at Sidoti upgraded shares of G & K Services from a “neutral” rating to a “buy” rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $63.50.
The stock has a 50-day moving average of $50.5 and a 200-day moving average of $55.49. The company has a market cap of $1.033 billion and a P/E ratio of 25.09.
G&K Services, Inc, provides branded uniform and facility services programs. The Company serves a base of approximately 165,000 customers.
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