TD Securities Upgrades K-Bro Linen (TSE:KBL) to “Strong-Buy”

K-Bro Linen (TSE:KBL) was upgraded by research analysts at TD Securities to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

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

K-Bro Linen Price Performance

Shares of KBL stock opened at C$47.49 on Friday. The company has a debt-to-equity ratio of 116.44, a current ratio of 1.87 and a quick ratio of 0.87. K-Bro Linen has a 1-year low of C$33.30 and a 1-year high of C$47.85. The stock’s 50-day moving average is C$43.47 and its 200 day moving average is C$38.57. The company has a market cap of C$612.72 million, a P/E ratio of 29.50, a PEG ratio of 3.50 and a beta of 0.89.

K-Bro Linen (TSE:KBL) last issued 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 during the quarter. K-Bro Linen had a net margin of 3.51% and a return on equity of 7.12%. Research analysts predict that K-Bro Linen will post 2.3389262 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey Ronald Gannon sold 1,225 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$42.00, for a total value of C$51,450.00. Following the completion of the sale, the insider owned 15,407 shares of the company’s stock, valued at approximately C$647,094. The trade was a 7.37% decrease in their ownership of the stock. Also, insider K-Bro Linen Inc. acquired 2,670 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of C$41.33 per share, with a total value of C$110,351.10. Following the acquisition, the insider directly owned 343,321 shares in the company, valued at approximately C$14,189,456.93. This trade represents a 0.78% increase in their ownership of the stock. In the last 90 days, insiders have bought 14,622 shares of company stock valued at $605,901. Corporate insiders own 3.25% of the company’s stock.

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. 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.