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

K-Bro Linen Inc. (TSE:KBL)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$42.52 and last traded at C$42.05, with a volume of 17487 shares. The stock had previously closed at C$41.68.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. National Bank Financial set a C$51.00 price objective on shares of K-Bro Linen and gave the company an “outperform” rating in a research note on Friday, April 10th. TD lifted their target price 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 equities research analysts have rated the stock with a Buy rating, According to MarketBeat, K-Bro Linen presently has a consensus rating of “Buy” and an average price target of C$50.75.

K-Bro Linen Trading Up 0.9%

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 capitalization of C$542.53 million, a PE ratio of 26.12, a P/E/G ratio of 3.50 and a beta of 0.89. The business’s fifty day moving average is C$38.47 and its 200-day moving average is C$36.29.

K-Bro Linen (TSE:KBL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$0.36 earnings per share for the quarter. The company 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%. As a group, analysts anticipate that K-Bro Linen Inc. will post 2.3389262 EPS for the current fiscal year.

Insider Transactions at K-Bro Linen

In other news, insider K-Bro Linen Inc. purchased 2,670 shares of the company’s stock in a transaction 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 purchase, the insider directly owned 343,321 shares of the company’s stock, valued at C$14,189,456.93. The trade was a 0.78% increase in their position. Insiders bought a total of 14,622 shares of company stock worth $605,901 over the last ninety 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.