JP Morgan Downgrades G&K Services Inc to Neutral

Brokerage firm JP Morgan Downgrades its rating on G&K Services Inc(NASDAQ:GK). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Aug 18, 2016.

In a different note, On Jun 6, 2016, Sidoti & Co. said it Downgrades its rating on G&K Services Inc. The shares have been rated ‘Neutral’ by the firm.

G&K Services Inc (GK) shares turned negative on Mondays trading session with the shares closing down -0.07 points or -0.07% at a volume of 3,39,572. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $97.3225. The peak price level was also seen at $97.3225 while the days lowest was $96.91. Finally the shares closed at $97.32. The 52-week high of the shares is $97.84 while the 52-week low is $51.94. According to the latest information available, the market cap of the company is $1,923 M.

G&K Services Inc(GK) last announced its earnings results on Aug 16, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $258.50M. Analysts had an estimated revenue of $257.80M. Earnings per share were $1.00. Analysts had estimated an EPS of $0.95.

Several Insider Transactions has been reported to the SEC. On May 4, 2016, Thomas Joseph Dietz (Vice President and Controller) sold 1,068 shares at $71.05 per share price.Also, On Feb 29, 2016, John S Bronson (director) sold 4,105 shares at $65.78 per share price.On Nov 10, 2015, Alice M Richter (director) sold 1,500 shares at $66.64 per share price, according to the Form-4 filing with the securities and exchange commission.

G&K Services Inc. is a service-focused market leader of branded uniform and facility services programs. The Company’s facility products and services include floor mats towels mops and restroom hygiene products. The Company serves customers in industries including automotive warehousing distribution transportation energy manufacturing food processing pharmaceutical retail restaurants hospitality government healthcare and others. The Company provides service to customers of every size from Fortune 100 companies to small and midsize firms. The Company offers facility services programs that provide dust control maintenance hand care and hygiene products and services. These programs include floor mat offerings such as traction control logo message scraper anti-fatigue; towel products such as shop kitchen bar bath dish continuous roll microfiber; mop offerings such as dust microfiber wet; fender covers selected linen items and restroom hygiene products.

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