K-Bro Linen (TSE:KBL) Shares Pass Above 200 Day Moving Average – What’s Next?

K-Bro Linen Inc. (TSE:KBL) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$35.78 and traded as high as C$36.17. K-Bro Linen shares last traded at C$35.65, with a volume of 46,980 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on KBL shares. Acumen Capital upped their price objective on K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a report on Monday, March 24th. Cormark downgraded shares of K-Bro Linen from a “moderate buy” rating to a “hold” rating in a report on Wednesday, June 4th. TD Securities boosted their target price on K-Bro Linen from C$49.00 to C$50.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus raised their price objective on K-Bro Linen from C$46.00 to C$50.00 in a report on Friday. Finally, Raymond James raised their price target on shares of K-Bro Linen from C$45.00 to C$48.00 and gave the company an “outperform” rating in a research note on Tuesday, June 3rd.

K-Bro Linen Stock Performance

The stock has a market capitalization of C$374.07 million, a price-to-earnings ratio of 19.95, a P/E/G ratio of 3.50 and a beta of 1.08. The stock has a fifty day simple moving average of C$35.14 and a two-hundred day simple moving average of C$35.78. The company has a debt-to-equity ratio of 102.23, a quick ratio of 0.87 and a current ratio of 2.08.

K-Bro Linen Dividend Announcement

The company also recently disclosed a jun 25 dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.10 dividend. K-Bro Linen’s dividend payout ratio (DPR) is presently 67.15%.

About K-Bro Linen

K-Bro Linen Inc is a healthcare and hospitality laundry and linen processor in Canada. It operates in major cities across Canada, and has two distribution centers, providing management services and laundry processing of hospitality, healthcare, and specialty linens. The company provides vital products and services that help people heal, travel, live, and play.