K-Bro Linen (TSE:KBL) Hits New 1-Year High – Still a Buy?

Shares of K-Bro Linen Inc. (TSE:KBL) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$43.14 and last traded at C$43.23, with a volume of 3290 shares. The stock had previously closed at C$43.05.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KBL. National Bank Financial set a C$51.00 target price on K-Bro Linen and gave the company an “outperform” rating in a research note on Friday, April 10th. TD lifted their price target on shares of K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$51.00.

K-Bro Linen Trading Up 1.0%

The firm has a market cap of C$560.98 million, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. The business’s 50 day moving average price is C$40.63 and its 200-day moving average price is C$37.07. The company has a debt-to-equity ratio of 116.44, a quick ratio of 0.87 and a current ratio of 1.87.

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

Insider Activity at K-Bro Linen

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

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.