K-Bro Linen (TSE:KBL) Sets New 52-Week High – Time to Buy?

K-Bro Linen Inc. (TSE:KBL)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$45.50 and last traded at C$45.45, with a volume of 3606 shares traded. The stock had previously closed at C$44.12.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KBL. TD lifted their price target on 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. National Bank Financial set a C$51.00 target price on K-Bro Linen and gave the company an “outperform” rating in a report on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$51.00.

K-Bro Linen Stock Up 2.6%

The company has a 50 day moving average of C$41.70 and a 200-day moving average of C$37.63. The company has a debt-to-equity ratio of 116.44, a current ratio of 1.87 and a quick ratio of 0.87. The company has a market cap of C$583.94 million, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89.

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

Insider Activity at K-Bro Linen

In related news, insider K-Bro Linen Inc. bought 5,341 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of C$41.25 per share, for a total transaction of C$220,316.25. Following the completion of the transaction, the insider directly owned 338,581 shares in the company, valued at C$13,966,466.25. This trade represents a 1.60% increase in their position. Also, insider Jeffrey Ronald Gannon sold 1,225 shares of the business’s 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 completion of the transaction, the insider directly owned 15,407 shares of the company’s stock, valued at approximately C$647,094. This represents a 7.37% decrease in their position. Over the last 90 days, insiders purchased 14,622 shares of company stock worth $605,901. 3.25% of the stock is owned by company 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.