K-Bro Linen (TSE:KBL) Sets New 12-Month High After Analyst Upgrade

Shares of K-Bro Linen Inc. (TSE:KBL) hit a new 52-week high during trading on Monday after TD Securities upgraded the stock to a strong-buy rating. The company traded as high as C$47.87 and last traded at C$47.87, with a volume of 430 shares traded. The stock had previously closed at C$47.10.

A number of other analysts have also issued reports on KBL. TD boosted their price target on K-Bro Linen from C$50.00 to C$52.00 and gave the company a “buy” rating in a report on Thursday, May 7th. National Bank Financial set a C$51.00 price objective on K-Bro Linen and gave the stock an “outperform” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$51.00.

Insider Buying and Selling

In other K-Bro Linen news, insider K-Bro Linen Inc. bought 2,670 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of C$41.33 per share, for a total transaction of C$110,351.10. Following the completion of the transaction, the insider directly owned 343,321 shares of the company’s stock, valued at approximately C$14,189,456.93. This trade represents a 0.78% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$42.00, for a total transaction of C$51,450.00. Following the completion of the sale, the insider directly owned 15,407 shares in the company, valued at approximately C$647,094. The trade was a 7.37% decrease in their ownership of the stock. In the last quarter, insiders purchased 14,622 shares of company stock worth $605,901. 3.25% of the stock is owned by insiders.

K-Bro Linen Stock Down 0.2%

The company has a quick ratio of 0.87, a current ratio of 1.87 and a debt-to-equity ratio of 116.44. The stock has a market cap of C$611.55 million, a PE ratio of 29.44, a P/E/G ratio of 3.50 and a beta of 0.89. The business has a 50 day moving average price of C$43.62 and a 200 day moving average price of C$38.68.

K-Bro Linen (TSE:KBL) last posted its earnings results on Tuesday, May 5th. The company reported C$0.36 EPS for the quarter. The firm had revenue of C$139.11 million for the quarter. K-Bro Linen had a return on equity of 7.12% and a net margin of 3.51%. Equities research analysts expect that K-Bro Linen Inc. will post 2.3389262 EPS for the current fiscal year.

K-Bro Linen Company Profile

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. It helps hospitals and extended care centers care for the young, old, and vulnerable in environmentally responsible ways. It operates through two divisions, which are the Canadian division and the United Kingdom division.