K-Bro Linen (TSE:KBL) Hits New 52-Week High – Still a Buy?

K-Bro Linen Inc. (TSE:KBL)’s stock price reached a new 52-week high on Thursday . The stock traded as high as C$43.97 and last traded at C$43.67, with a volume of 531 shares trading hands. The stock had previously closed at C$43.20.

Analyst Ratings Changes

KBL has been the subject of several recent research reports. National Bank Financial set a C$51.00 price target on K-Bro Linen and gave the company an “outperform” rating in a report on Friday, April 10th. TD boosted their price objective on 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 analysts have rated the stock with a Buy rating, According to MarketBeat, K-Bro Linen presently has an average rating of “Buy” and a consensus target price of C$51.00.

K-Bro Linen Trading Up 2.4%

The company has a current ratio of 1.87, a quick ratio of 0.87 and a debt-to-equity ratio of 116.44. The business has a 50 day simple moving average of C$41.05 and a two-hundred day simple moving average of C$37.30. The stock has a market cap of C$571.56 million, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89.

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

Insider Buying and Selling

In other K-Bro Linen news, insider Jeffrey Ronald Gannon sold 1,225 shares of K-Bro Linen stock in a transaction on 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 transaction, the insider owned 15,407 shares of the company’s stock, valued at C$647,094. The trade was a 7.37% decrease in their ownership of the stock. Also, insider K-Bro Linen Inc. bought 2,670 shares of the stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of C$41.33 per share, with a total value of C$110,351.10. Following the completion of the acquisition, the insider directly owned 343,321 shares of the company’s stock, valued at approximately 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 valued at $605,901 over the last quarter. Company insiders own 3.25% of the company’s stock.

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.