Insider Selling: M Lenny Pippin Unloads 1,000 Shares of G & K Services Stock (GK)
G & K Services (NYSE:GK) Director M Lenny Pippin unloaded 1,000 shares of G & K Services stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $54.63, for a total value of $54,630.00. Following the completion of the transaction, the director now directly owns 16,357 shares in the company, valued at approximately $893,583. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. upgraded shares of G & K Services from a “neutral” rating to an “overweight” rating in a research note on Friday, August 15th. They now have a $64.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. 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.
G & K Services (NYSE:GK) traded down 1.76% during mid-day trading on Wednesday, hitting $54.28. 60,206 shares of the company’s stock traded hands. G & K Services has a 1-year low of $47.40 and a 1-year high of $65.36. The stock’s 50-day moving average is $50.88 and its 200-day moving average is $55.38. The company has a market cap of $1.066 billion and a price-to-earnings ratio of 23.42.
G & K Services (NYSE:GK) last announced its earnings results on Thursday, August 14th. 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. On average, analysts predict that G & K Services will post $3.20 earnings per share for the current fiscal year.
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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