K-Bro Linen (TSE:KBL) Sets New 1-Year High – What’s Next?

K-Bro Linen Inc. (TSE:KBL) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$47.43 and last traded at C$47.09, with a volume of 7367 shares trading hands. The stock had previously closed at C$47.01.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD lifted their target price on K-Bro Linen from C$50.00 to C$52.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. 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. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$51.00.

K-Bro Linen Stock Performance

The firm has a market capitalization of C$607.56 million, a PE ratio of 29.25, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. 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’s 50 day simple moving average is C$42.84 and its two-hundred day simple moving average is C$38.26.

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

Insider Transactions at K-Bro Linen

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

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.